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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Shertnen Street, Room 721 <br />Denver. Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax:(303)866-4474 <br />www.cwcb.state.co.us <br />No~~b~ zo, Zoos <br />Mr. Robin Wiley, Chairman <br />Yuma County Water Authority Public Improvement District <br />310 Ash, Suite A <br />Wray, CO 80758 <br />RE: North Fork Water Rights Purchase <br />Loan Contract #C150274 <br />Deaz Mr. Wiley: <br />e~~~ Ricon. h. <br />Govemor <br />Harris D. Shertnan <br />DNR Executive Director <br />Jennifer 4 Gimbel <br />CWCB Dimtor <br />Dan McAuiiffe <br />CWCB Deputy Dircctor <br />I am pleased to inform you that on November 19, 2008 the Colorado Water Conservation Board <br />approved your loan request for the North Fork Water Rights Purchase as described in the Application and <br />approved Loan Feasibility Study titled "Loan Feasibility Study for North Fork Water Rights Purchase ", <br />dated October 2008. The Board approved a loan not to exceed $9,595,000 ($9,500,000 for purchase costs <br />and $95,000 for the 1% Loan Service Fee) with loan terms of 2.25% per annum for 20 years. I have <br />attached a copy of the updated Board memo dated November 19, 2008, that includes the Board's <br />approval of the waiver of a debt service reseive account requirement. <br />After the Board approves a loan there are a few steps that remain in the loan process including: <br />A) Contractine: An approved contract must be in place before funds can be disbursed. Vaughn <br />McWilliams will initiate the loan contracting process for this project. When all of the contract <br />conditions are met and the contract is executed the District may request disbursements to cover <br />eligible project expenses. You can contact Vaughn at (303) 866.3441 x3227 regarding the <br />requirements. <br />B) Water Rights Closins/Disbursements• Vaughn wi]] also be your contact to process the loan <br />disbursernent related to the lease payment and will likely attend the closing. <br />Water Supply Protection • Wrtershed Protection & Flood Mitigstion • Stream & I.ake Protection • Water Supply Pianning ic Finance <br />Water ('onservrtion & Drought PlanninR • Intrastrte Water tilan~Rement & Development <br />