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Ridgway Reservoir Micro-Hydro Project Loan Feasibility <br />Page 27 of 42 <br />GOVERNOR'S ENERGY OFFICE <br />1580 Logan Street, Suite 100 <br />Denver, CO 80203 <br />Phone: (303)866-2100 <br />Fxx: (303)866-2930 <br />www.rochareecolorado.com <br />geo@state.co.us <br />February 16, 2011 <br />Mike Berry <br />� Tri-Coanty Water Conservancy District <br />647 N. ?th Street <br />Montrose, C4 81402 <br />Dear Mr. Berry, <br />STATE OF COLdRADO <br />„ -. <br />• +.;,,r . <br />►� a <br />John Hickenl�per <br />Go�ernor <br />Tanuj D�ra <br />Director <br />Qn behalf of the Governor's Energy Office (GFA), it is with great pleasure that I inform you that yaur <br />application fa a Qaalified Energy Conservation Bond allocation has been awarded full funding in the <br />amount of $6,50(},OOQ. <br />As you know, QECBs are not a grant; they are a unique repayment mechanism for public �inance <br />vehicles such as GO Bonds, Revenue Bonds, COPs, and sa forth. Depending on your method of fmance, <br />there will be certain pr�ocols in order to move forward with your transaction. such an approved <br />ordinance by your governing body. idendfying an und�rwriter, etc. In order to assure that we expend all <br />of the State's allocatia+, we are hoping that you continue to adhere the following milestones: <br />Mareh l: Provide an update on your finance plan in reference to page 4 of your QECB <br />application. Pl+ease specify whether project assumptions such as costs and revenue sources are <br />prc�eeeding according to plan. or note any variations. <br />Ju�y i: Indicate that you have received approval from the appropriate governing bodies (City <br />Couneil, County Commissioners, Board of Dircclors, etc) in accordamx to your policy <br />gnidelines to procad with the QECB transaction. <br />September 1: lndicate that the tra�saction has been priced and clos�d in the market. <br />Please send rr�e confirmation when these milestones have been reached. <br />Tt�ank you for your ongoing work to promote renewable energy and energy e�ciency in Colorado. <br />Congratulations on your award. We look Forward to working with you. <br />3incerely. <br />:'l�•�" /..-�'"�M�`".__ .. <br />.G <br />&ika G�bson <br />Grants Associate <br />Governor's Energy Office <br />