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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 />January 31, 2012 <br />John W. Hickenlooper <br />Governor <br />Mr. Don Keairns <br />Town of La Veta <br />Mike King <br />DNR Executive Director <br />P.O. Box 174 <br />La Veta, CO 81055 -0174 <br />Jennifer Gimbel <br />i <br />CWCB Director <br />Re: North Lake Dam Rehabilitation Project <br />Contract Number C150329 <br />Dear Mr. Keairns: <br />I am pleased to inform you that on January 24, 2012 the Colorado Water Conservation Board <br />approved your loan request for the North Lake Dam Rehabilitation Project as described in the <br />application and approved Loan Feasibility Study titled "Storage Feasibility Report," dated <br />October 25, 2011. The Board approved a loan not to exceed $372,690 ($369,000 for project costs <br />and $3,690 for the 1% Loan Service Fee). The loan terms shall be 30 years at an interest rate of <br />3.00% per annum. I have attached a copy of the updated Board memo dated January 31, 2012, that <br />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) Contracting: 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 <br />contract conditions are met and the contract is executed the Town may request loan funds to <br />cover eligible project expenses. You can contact Vaughn at (303) 866 -3441 x 3227 <br />regarding the requirements. <br />B) DesiWConstruction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Anna Mauss has been assigned as the Project Manager for this <br />project. Anna will contact you regarding this phase of the process and will make <br />construction site visits, which will be the basis of pay estimates for disbursement of your <br />loan funds. You can contact Anna at (303) 866 -3441 x3224. <br />Interstate & Federal • Watershed & Flood Protection • Stream & Lake Protection • Finance <br />Water Information • Water Conservation & Drought Planning • Water Supply Planning <br />