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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. c we b. state. co. us <br />October 22, 2013 <br />John W. Hickenlooper <br />Governor <br />Mike King <br />DNR Executive Director <br />Left Hand Ditch Company <br />Attn: Terry lummer VP of Maintenance & Operations James Eklund <br />rry � p CWCB Director <br />P.O. Box 299 <br />Niwot, CO 80544 <br />Re: Emergency Left Hand Ditch System Repairs <br />Contract Number C 1503 70 <br />Mr. Plummer:. <br />I am pleased to inform you that on October 21 st, 2013 the Colorado Water Conservation Board <br />approved your loan request for the Emergency Left Hand Ditch System Repairs as described in <br />the application and approved Loan Feasibility Study titled "Emergency Loan Application and <br />Feasibility Study", dated October 2013. The Board approved a loan not to exceed $3,276,056 <br />($3,243,620 for project costs and $32,436 for the 1% Loan Service Fee). The loan terms shall be <br />three years of no interest followed by 27 -years at a blended interest rate of 2.30% per annum. - <br />I have attached a copy of the updated Board memo dated October 22, 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 contract must be in place before funds can be disbursed. Peg <br />Mason will contact you to initiate the loan contracting process for this project. When all of <br />the contract conditions are met and the contract is executed the Partnership 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. The Project Manager will contact you for this phase of the <br />process and will work with you on the disbursements of your loan funds. <br />Collaboration: The Borrower is encouraged to consider rebuilding a river diversion system <br />which improves the consumptive and nonconsumptive uses of the river corridor. Examples <br />include improved fish passage, improved rafting/boating navigation, and possible shared <br />ownership /use of a single diversion structure where possible. If needed, loan funds may be <br />Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection <br />Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning <br />