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<br />~~'~ PATRICI~ ~ [vIILLER ~ KRQPF <br />~ Mr. Kirk Russell <br />Page 2 <br />Apri128, 2009 <br />code currently; allowing the Town to institute watering restrictions in a phased manner <br />during drought scenarios, and the Town's codified water rates escalate as usage increases. <br />4. Interest Rate Updates. It is our understanding that Gypsum qualifies for 4.5% interest for <br />a 30 year loan, 4.25% for a 20 year loan, and 4.0% for a 10 year loan. We attach updated <br />financial information as a revised Appendix 10 to the Town's feasibility study that <br />outlines the 4.5% interest for a 30 year loan. Also attached is Appendix 10A, which <br />outlines 4.0 % interest for a 10 year loan, and 4.25% interest for a 20 year loan. <br />Currently, we would like to plan for a 20 year loan at 4.0%. However, as I am sure you <br />can appreciate, the Town Council will still need to review and approve the final loan <br />terms. <br />5. Protecting Gypsum Creek Flows. The Town has worked cooperatively with CWCB over <br />the years. As a holder of both senior and junior water rights on Gypsum Creek, the <br />ability to better control and release storage from LEDE Reservoir is in part an effort to <br />stabilize Gypsum Creek's flows. In several Gypsum water court decrees, the Town is <br />akeady obligated to ensure that CWCB's minimum instream flows are not injured. The <br />LEDE Reservoir project plans for water releases that will supply irrigation, domestic and <br />augmentation water directly to Gypsum Creek - if the creek has adequate flows, then <br />Gypsum's other water rights supplying water treatments plants are able to divert without <br />risk of curtailment on a year around basis. Currently, Gypsum foresees that it will <br />require all the stored water in LEDE to adequately supply water for approved and <br />existing development in Gypsum. Further developing LEDE Reservoir to have the <br />ability to release water to Gypsum Creek to cover delayed return flows and other <br />depletions will help maintain in stream flow in Gypsum creek at critical times. <br />Hopefully this additiona.l information answers all outstanding questions. Also, it is our <br />understanding that the CWCB hearing on this matter is scheduled for May 20. Please advise if <br />this is correct, and how and where the Town should attend. Thank you again for your help with <br />this application process, and feel free to call me or Jeff Shroll, Gypsum's Town Manager, with <br />any questions or additional concerns. <br />Very truly yours, <br />PATRICK, MILLER & KROPF, P.C. <br />A Professional Corporation <br />By: ~~r,p <br />4• <br />Ramsey L. Kropf <br />krap c1 `~a.waterlaw. cam <br />encl. <br />cc: Jeff Shroll <br />Tom Zancanella <br />Mazk Silverthorn <br />Jeff Shreeve <br />Jim Hancock <br />W:\GYPSUMl37 D2 LEDE Reservoir~Documents\CWCB FeasStudy&Appx~RLK Cover Letter to CWCB 4-28-09.doc <br />