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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 />October 1, 2013 <br />John W. <br />Gove oHickenlooper <br />Mike King <br />DNR Executive Director <br />McDonald Ditch Company <br />Attn: James Hart President <br />James Eklund <br />CWCB Director <br />2483 US Highway 285 North <br />Monte Vista, CO 81141 <br />Re: McDonald Ditch Diversion and Headgate Replacement Project <br />Contract Number C150334 <br />Mr. Hart: <br />I am pleased to inform you that on September 25, 2013 the Colorado Water Conservation Board <br />approved your loan increase request for the McDonald Ditch Diversion and Headgate <br />Replacement Project. The Board approved a loan increase of $30,300 ($30,000 for project costs <br />and $300 for the 1% Loan Service Fee) for a total loan not to exceed $101,000 ($100,000 for project <br />cost and $1,000 for the I% Loan Service Fee). The loan terms shall remain 20 years at an interest <br />rate of 2.50% per annum. <br />I have attached a copy of the updated Board memo dated September 30, 2013, that includes the <br />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 updated contract must be in place before funds can be disbursed. <br />Peg Mason will contact you to initiate the loan contracting process for this project. When all <br />of the contract conditions are met and the contract is executed the Town may request loan <br />funds to cover eligible project expenses. You can reach Peg at (303) 866 -3441 x3227. <br />B) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Jonathan Hernandez will be the Project Manager for this phase <br />of the process and will work with you on the disbursements of your loan funds. You can <br />contact him at (303) 866 -3441 x3234. <br />Interstate & Federal • Watershed & Flood Protection • Stream & Lake Protection • Finance <br />Water Information • Water Conservation & Drought Planning • Water Supply Planning <br />