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C150298 Approval Letter
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C150298 Approval Letter
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Last modified
8/12/2011 3:14:04 PM
Creation date
10/14/2009 1:17:26 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150298
Contractor Name
Fort Morgan Reservoir and Irrigation Company
Contract Type
Loan
Water District
0
County
Morgan
Loan Projects - Doc Type
Approval Letter
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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) 866~474 <br />www.cwcb. state.co. us <br />September 21, 2009 <br />Ms. Cynthia Vassios, Office Manager <br />Fort Morgan Reservoir and Irrigation Company <br />P.O. Box 38 <br />Fort Morgan, Colorado 80701 <br />RE: Pipeline Project <br />Contract Number C150298 <br />Dear Ms. Vassios: <br />Bill Ritter, Jr <br />Governor <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 September 15, 2009 the Colorado Water Conservation Board <br />approved your loan request for the Pipeline Project as described in the application and approved Loan <br />Feasibility Study titled "Feasibility Report for Pipeline Project, July, 2009 ". The Board approved a <br />loan not to exceed $1,494,800 ($1,480,000 for project costs and $14,800 for the 1% Loan Service <br />Fee) with loan terms of 2.9% per annum for 30 years. I have attached a copy of the updated Board <br />memo dated September 16, 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 contracting process for this project. When all of the contract <br />conditions are met and the contract is executed the Company 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 />The contract will have the following provisions: <br />1) An executed copy of the operating agreement between Ft. Margan Reservoir and <br />Irrigation Company and Groves Farms must be submitted to the CWCB prior to the <br />disbursement of funds; <br />2) Documentation that all necessary easements from neighboring landowners along the <br />pipeline route have been obtained must also be submitted to the CWCB prior to the <br />disbursement of funds. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />
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