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<br />ST A TE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />(Revised) <br />MEMORANDUM <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />Harris Sherman <br />Executive Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board.Members <br />~. \ <br />/ '---/ <br />. . \.-.~,/ <br />TIm Feehan, P.E., Project M~a er X"~' c' '. <br />Mike Serlet, P.E., Chief ~ / <br />Water Supply Planning and inance tion <br /> <br />Dan McAulilife <br />Acting CWCB <br />Director <br /> <br />FROM: <br /> <br />DATE: August 20,2007 <br /> <br />SUBJECT: Consent Agenda Item No.3, September 18-19, 2007 Board Meeting <br />Water Supply, Planning and Finance - Changes to Existing Loans <br />Larimer and Weld Irrigation Company <br /> <br />INTRODUCTION <br /> <br />At the May 2005 Board Meeting, the Board authorized staff to present revisions to existing <br />loans, totaling less then 20% of the original loan, as Consent Agenda Items. The Larimer and Weld <br />Irrigation Company loan increase presented below represents a 6.9% increase to the Company's original <br />estimated proj ect cost. <br /> <br />At the September 2004 board meeting, the Colorado Water Conservation Board (CWCB) approved <br />a loan to the Larimer and Weld Irrigation Company (Company) in the amount of $1,515,000 from the <br />Severance Tax Trust Fund Perpetual Base Account. The $1,515,000 loan was for the reconstruction of the <br />Lake Lee Dam, the Big Windsor Inlet, and the Finley Check Structure. <br /> <br />The Company is requesting (see attached letter), an increase of $105,492 to the Company's 2004 <br />authorization of $1,515,000, for the design and construction of the three structures indicated above. <br />The requested loan increase is due to cost overruns associated with the Big Windsor Inlet and Lake Lee <br />Dam. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection 0 Conservation and Drought Planning <br />