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STAT� OF COLC�I�DO <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 />�wvw. cwcb. state. co. u s <br />December 7, 2001 <br />1VIr. J. Moody <br />Owl Creek Reservoir Company <br />P.O. Box 210 <br />Eaton, CO 80615 <br />Re: Owl Creek Reservoir Rehabilitation Project - Construction Fund Loan Approval <br />Dear Mr. Moody, <br />. _ _ �► <br />�;; <br />•--�•��.�. � J• <br />��� . � <br />��-- <br />Biil Owens <br />Governor <br />Greg E. Walcher <br />Fxecutive Diredor <br />Rod Kuharich <br />CWCB Diredor <br />Dan McAuliffe <br />Deputy Director <br />I am pleased to inform you that the Colorado Water Conservation Board approved <br />your Construction Fund Loan request on November 20, 2001. The loan is for the <br />rehabilitation of the Owl Creek Reservoir. <br />The Board approved the Construction Fund Loan in a maximum amount <br />$1,125,000. The loan terms are 2.75% for 30 years. I have attached a copy of the <br />updated Board memo concerning Owl Creek Reservoir Company. Please refer to page 6 <br />of that memo and to the Section "Action taken by the CWCB November 20, 2001 ". <br />The Board's approval was based on the Owl Creek Reservoir Company meeting <br />the following conditions: <br />1. A Feasibilit� is required, Tim Feehan has reviewed the study titled <br />"Feasibility Study Owl Creek Reservoir", prepared by the Colorado Water <br />Conservation Board. The report meets the requirements of the CWCB <br />Construction Fund Guidelines for feasibility studies. <br />2. An approved contract must be in-place before funds can be advanced. Jan <br />Illian will be contacting you to initiate the loan contract process in the near <br />future. Our goal is to have a loan contract signed by all parties by June 2002, <br />that is when all loan funds for 2002 are approved for disbursement by the <br />Colorado State Legislature. <br />Flood Protection • Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection + Conservation Planning <br />