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STATE OF COLOR.ADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Sueet, Room 721 <br />Denver, Colorado 80203 <br />Phone:(303)866-3441 <br />Fax:(303)866-4474 <br />www.cwcb.state. co.us <br />May 26, 2009 <br />Mr. Kit Hamby, District Manager <br />Snowmass Water & Sanitation District <br />0177 Club House Drive <br />Snowmass Village, CO 81615 <br />RE: Ziegler Reservoir Water Management System Project <br />Contract Number C 150294 <br />Dear Mr. Hamby: <br />Bill Ritter, Jr <br />Govemor <br />Harris D. Sherman <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy Director <br />I am pleased to inform you that on May 19, 2009 the Colorado Water Conservation Board approved <br />your loan request for the Ziegler Reservoir Water Management System Project as described in the <br />application and approved Loan Feasibility Study titled "Feasibility of Construction of the Ziegler <br />Reservoir Water Management System, March 2009 ". The Board approved a loan not to exceed <br />$1,952,805 ($1,933,470 for project costs and $19,335 for the 1% Loan Service Fee) with loan terms <br />of 4.25% per annum for 20 years. I have attached a copy of the updated Board Memo dated May 22, <br />2009, that includes the Board's approval. <br />After the Board approves a loan there are a few steps that remain in the loan process including: <br />A) Contractin~: An approved contract must be in place before funds can be disbursed. Vaughn <br />McWilliams will initiate the loan contracring process for this project. When all of the contract <br />conditions are met and the contract is executed the District may request loan funds to cover <br />eligible project expenses. You can contact Vaughn at (303) 866-3441 x 3227 regarding the <br />requirements. <br />B) Design/Construction: You must adhere to the CWCB Design and Construction Administration <br />Procedures. Tim Feehan will contact you regarding this phase of the process. Tim will make <br />construction site visits, which will be the basis of pay estimates for disbursement of your loan <br />funds. You can contact Tim at his desk at (303) 866-3441 x 3211 or cell phone (303) 618- <br />5010. <br />Water Supply Protection • Watershed Protection & Flood Ylitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />