C150156 project compl

• Contract/PO #: C150156
• Contractor Name: Arkansas Groundwater Users Association
• Contract Type: Loan
• Water District: 14
• County: Pueblo
• Loan Projects - Doc Type: Project Completion Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us
November 19, 2009
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. Scott Lorenz, General Manager
Arkansas Groundwater Users Association
P.O. Box 11446
Pueblo, CO 81001
Re: Contract Number C150156 — Water Rights Purchase/Augmentarion
Dear Mr. Lorenz:
Bill Ritter jr.
Governor
james Martin
DNR Executive
Director
Jennifer L. Gimbel
CWCB Directar
Dan McAuliffe
CWCB Deputy
Director
This letter is to advise you that the substantial completion date for the work described has been changed from March 1,
2009 to August 1, 2009.
In accordance with the Contract, the Arkansas Groundwater Users Association owes $8,737.41 for interest during
construcrion, from March 1, 2009 to August 1, 2009, as calculated on the attached spreadsheet. Per Section A.4 of the contract
provisions, the accnzed interest of $107,454.29 as of March 1, 2009, was included as the final disbursement of the loan funds.
Your first loan payrnent in the amount of $45,419.00 is now due on August 1, 2010. The $45,419.00 annual' loan
payment was calculated based on a$950,632.96 final loan balance at 2.50% for 30-years, which includes a 1% loan service fee of
$9,412.21. Vaughn McWilliams, our Contract Administrator, will be amending the Promissory Note, contained as Appendix 2 of
the contract to reflect the final loan contract amount.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservarion Board annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the Arkansas Groundwater Users
Association on the successful completion of this project. Please call if you have any quesrions regarding this matter or if we can
be of service to you in the future.
Sincerely,
Tim Feehan, P.
Project Manag r, Water Supply Planning and Finance Secrion
cc. Reed Dils, CWCB Board Member
Water Supply Planning and Finance Section
Project file
Contract file
Contract Amount = $960,840.00
Expended Amount = $950,632.96
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning