C150240 Contract Requirements

• Contract/PO #: C150240
• Contractor Name: Bull Creek Reservoir, Canal & Power Company
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

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
March 28, 2013
Mr. John Groo, Secretary/Treasurer
Bull Creek Reservoir Canal & Power Company
P.O. BOX 25
Molina, CO 81646 -0025
Re: Bull Creek Reservoir #4 Rehabilitation — Loan Contract Change
Loan Contract Number C150240
Dear Mr. Groo:
John W. Hickenlooper
Governor
Mike King
DNR Executive Director
Jennifer L. Gimbel
CWCB Director
We are in receipt of your letter dated January 1, 2013 referencing Tim Feehan's letter dated November 9, 2011
regarding the Company's requirement to either:
1.) have a contract for the sale of water
or
2.) submit a letter to CWCB requesting an amendment to the Loan Contract allowing the Company to maintain
ownership of Reservoir 1 & 2.
Your letter is requesting an additional year to evaluate the Company's ability to keep its water and maintain a
$125 /share assessment.
The CWCB staff is in support of your request. This letter shall serve as notice that the Company's deadline for
compliance with the requirements shall be January 2014. It is also our understanding that the Company will not
make an additional principle payment (as it did in 2012) on the CWCB loan in 2013 and 2014 due to necessary
repairs.
We will expect a follow up letter in January 2014 updating CWCB on the Company's financial situation and
plans to address the contract language and annual payment. Thank you for your attention to this issue.
Sincerely,
t
Kirk Russell, PE, Chief
CWCB Finance Section
Interstate & Federal • Watershed & Flood Protection • Stream & Lake Protection • Finance
Water Information • Water Conservation & Drought Planning • Water Supply Planning