Laserfiche WebLink
w <br />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 />December 16, 2011 <br />Mr. Julius Van Thuyne, Jr., President <br />Boulder and White Rock Ditch and Reservoir Company <br />10323 Monarch Road <br />Longmont, CO 80504 <br />Re: Panama Reservoir Outlet Project <br />Loan Contract Number C 15 02 79 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br />Dear Mr. Van Thuyne: <br />John W. Hickenlooper <br />Governor <br />Mike King <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />This letter is to advise you that the Project referenced above will be substantially completed on January 1, <br />2012. In accordance with the Loan Contract, the Company owes $171,311.94 for interest accrued during the <br />construction phase of the Project (see attached Project Expenditure Schedule). Please make your "interest <br />only" payment check payable to the Colorado Water Conservation Board and include the Loan Contract <br />Number C150279 on the check. <br />The total amount disbursed under this contract was $2,549,690.30 ($2,524,445.84 plus $25,244.46 for the 1% <br />service fee). An adjustment of $314,473.70 will be made to the contract for the funds no longer needed. <br />Vaughn McWilliams will initiate the process of amending the contract and Promissory Note. The first annual <br />loan payment will be due on January 1, 2013 (see attached Amortization Schedule). <br />Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a renewed <br />insurance certificate needs to be submitted to the CWCB annually. <br />It has been a pleasure working with you on the successful completion of this project. Please don't hesitate to <br />call if you have any questions regarding this matter. <br />Sincerely, <br />,6: 11� <br />Kirk Russell, P.E., Chief <br />CWCB Finance Section <br />cc: Eric Wilkinson, CWCB Board Member, South Platte Basin <br />Dan Grant, B &WR Company Secretary <br />Current Contract Amount = $2,549,689.90 <br />Expended Amount = $2,549,689.90 <br />Interstate & Federal • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Finance <br />Water Information • Water Conservation & Drought Planning • Water Supply Planning <br />