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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 22, 2013 <br />John Governor Hickenlooper <br />Mike King <br />DNR Executive Director <br />Rough and Ready Irrigating Ditch Company <br />James Eklund <br />Attn: Dan Grant, Treasurer CWCB Director <br />P.O. Box 1826 <br />Longmont, CO 80544 <br />Re: Emergency Rough & Ready Ditch River Diversion Structure Repair <br />Contract Number C 1503 71 <br />Mr. Grant: <br />I am pleased to inform you that on October 215', 2013 the Colorado Water Conservation Board <br />approved your loan request for the Emergency Rough & Ready Ditch River Diversion Structure <br />Repair as described in the application and approved Loan Feasibility Study titled "Emergency <br />Loan Application and Feasibility Study", dated October 2013. The Board approved a loan not to <br />exceed $1,843,250 ($1,825,000 for project costs and $18,250 for the 1% Loan Service Fee). The <br />loan terms shall be three years of no interest followed by 27 years at a blended interest rate of <br />2.70% 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 Company 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. You can contact <br />him at (303) 866 -3441. <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 />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 />