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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) 866-4474 <br />www.cwcb.state.co.us <br />November 19, 2009 <br />Mr. Mayo Sommermeyer <br />WRCC, IT1C. <br />106 Elm Avenue <br />Eaton, Colorado 80605 <br />RE: Cobb Lake Inlet Structure Project <br />Contract Number C150302 <br />Dear Mr. Sommermeyer: <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 November 18, 2009 the Colorado Water Conservation Board <br />approved your loan request for the Cobb Lake Inlet Structure Project as described in the application <br />and approved Loan Feasibility Study titled "Feasibility of Cobb Lake Inlet Structure," dated <br />September 21, 2009. The Board approved a loan not to exceed $1,301,890 ($1,289,000 for project <br />costs and $12,890 for the 1% Loan Service Fee) with loan terms of 2.85% per annum for 30 years. I <br />have attached a copy of the updated Board memo dated November 18, 2009, that includes the Board's <br />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 />B) Design/Consiruction: 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 Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />