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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 72I <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax: (303) 866-4474 <br />www.c wcb.state.co. us <br />May 25, 2008 <br />Mrs. Rita Crumpton, Manager <br />Bill Ritter, Jr. <br />~Govemor <br />Harris D. Shemian <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />668 38 Road Dan McAuliffe <br />Palisade, CO 81526 CWCB Depury Director <br />Re: Orchard Mesa Irrigation District - C 150222 Stokes Gulch Loan Amendment <br />Dear Mrs. Crumpton: <br />I arn pleased to inform you that the Colorado Water Conservation Board approved your <br />loan request on May 21, 2008. The Boazd approved an increase of $60,000 ($59,400 for project <br />costs and $600 for the 1% loan service fee) from the 2008 Severance Tax Fund, for a new total <br />amended loan amount of $600,000($594,060 for project costs and $5,940 for the 1% loan service <br />fee). The loan will be at an interest rate of 2.50% for 30-years. I have attached a copy of the <br />updated Board memo concerning the Orchard Mesa Irrigation District's request. Please refer to <br />page 3 of that memo and to the Section "Action taken by the CWCB on May 21, 2008". <br />The Board's approval was based on the Company meeting the following conditions. <br />1. An approved contract must be in-place before loan funds can be advanced. Vaughn <br />McWilliams, with our office will be in contact with you to initiate this process. If <br />you should have any questions, Vaughn's phone number is 303-866-3441, ext 3227. <br />2. You must adhere to CWCB's Standard Contractin~ Provisions. <br />Final approval of the loan contract will be conditional uvon the District's election. <br />Vaughn McWilliams will verify that the District has received voter approval to <br />increase debt to cover the approved loan increase. <br />4. The authorization will not commit the Colorado Water Conservation Board to provide <br />any further additional funding for the Bijou Irrigation District Diversion Structure <br />Rehabilitation Project. <br />Wetcr Supply Protection • Watershed Protection & Flood !Nitigation • Stream & I,ake Protection • Water tiupply Planning & Finance <br />Water Conservation & Urought Planning • Intrastrte Water Manegement & Development <br />