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STATE OF COLORADO <br />Colorado Water Conservation Board <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 />March 31, 2006 <br />Mr. Mark D. Gray, Mayor <br />Town of Keenesburg <br />P.O. Box 312 <br />Keenesburg, CO 80643 <br />RE: Loan for Raw Water Pipeline and Well Purchase <br />Dear Mark: <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />Rod Kuharich <br />CWCB Director <br />Rick Brown <br />Acting Deputy Director <br />I am pleased to inform you that on March 21, 2006 the Colorado Water Conservation Board (CWCB) <br />approved your loan request. We understand that the loan will be used to purchase an existing well and <br />construct a raw water pipeline from the well to the Town, in order to improve existing water quality. <br />The Board approved a loan not to exceed $1,523,080 ($1,508,000 for project costs and $15,080 for the <br />1 % Loan Service Fee) with loan terms of 3.75% per annum for 30 years. I have attached a copy of the <br />updated Board memo that includes a section "Action taken by the CWCB on March 21, 2006. <br />When the Board approves a loan there remain several conditions: <br />a) Feasibility Studer Bruce Johnson has reviewed the study titled "Feasibility Study for <br />CWCB Loan Application, Town of Keenesburg Water System Improvements -January <br />2006. " Please work with Bruce to fmalize several minor items needed to complete this <br />study. The report, in combination with the CWCB Board Memo revised March 31, <br />2006, will meet the requirements of the CWCB Construction Fund Guidelines for <br />feasibility studies. <br />b) Contracting: An approved contract must be in place before funds can be advanced. <br />Chad Henderson will initiate the loan contracting process for this project. Once the <br />contract is finalized the Company may request loan funds to cover eligible project <br />expenses. You can contact Chad Henderson at 303-866-3462 regarding contracting <br />requirements. <br />c) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Tim Feehan will contact you regarding the CWCB <br />requirements concerning prof ect bidding, design, and construction. Tim will make <br />construction site visits, which will be the basis of the monthly pay estimates for <br />disbursement of your loan funds. You can contact Tim Feehan at 303-866-3480. <br />Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection <br />Water Supply Protection • Conservation and Drought Planning <br />