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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Shem�an Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fa�c: (303) 866-4474 <br />www.cwcb.state.co.us <br />February 16, 2010 <br />Ms. Jane Devine, Office Manager <br />Trinchera Irrigation Company <br />610 Main Street <br />Blanca, CO 81123 <br />RE: Smith Dam Repair Project <br />Contract Number C150303 <br />Dear Ms. Devine: <br />Bill Ritter, Jr. <br />Governor <br />James B. Martin <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 January 27, 2010 the Colorado Water Conservation Board approved <br />your loan request for the Smith Dam Repairs Project as described in the application and approved <br />Loan Feasibility Study titled "Feasibility of Smith Dam Repairs, November 30, 2009 ". The Board <br />approved a loan not to exceed $606,000 ($600,000 for project costs and $6,000 for the 1% Loan <br />Service Fee) with loan terms of 2.75% per annum for 30 years. I have attached a copy of the updated <br />Board memo dated February 4, 2010, 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 />requ,irements. The contract will include the following contract provision: <br />All bridge financing related to the Project be paid in full with the proceeds from this CWCB <br />loan. <br />B) Desi�n/Construction: You must adhere to the CWCB Design and Construction Administration <br />Procedures. Tim Feehan will contact you regazding 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 MiNgation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />