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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources �oc_c <br /> 1313 Sherman Street,Room 721 .�s ,•N <br /> Denver,Colorado 80203 I '^ <br /> Phone:(303)866-3441 Ai%• { a l• <br /> Fax:(303)866-4474 r$T6•, <br /> www.cwcb.stale.co.us <br /> C 4‘r4e John W.Hickenlooper <br /> January 2,2014 <br /> Governor <br /> Mike King <br /> DNR Executive Director <br /> Haldi Ditch Company <br /> James Eklund <br /> Attn: W.R.Dagle, Secretary/Treasurer CWCB Director <br /> 7669 N. Foothills Hwy <br /> Boulder,CO 80302 <br /> Re: Emergency Haldi Ditch Repair <br /> Contract Number C150389 <br /> Mr.Dagle: <br /> We have reviewed your request for an exemption from the need to obtain a shareholder <br /> resolution from your members for CWCB loan contracting. As you know,the intent of this <br /> requirement was to assure CWCB that the mutual ditch company's members were properly <br /> notified of the emergency actions taken by the company's Board of Directors. Since the Haldi <br /> Ditch Company is not a mutual ditch company and the revenues that will be used for repayment <br /> and as collateral are approximately 80%user fees and not assessment revenues,the CWCB will <br /> waive the requirement. <br /> In consideration of this waiver,the Board of Directors will notify all of the Company's members <br /> by mail regarding the actions taken by the Board. This notification will be completed prior to the <br /> execution of the CWCB Loan Contract. <br /> On behalf of the Board, I would like to thank you for your assistance in processing this very <br /> important loan. <br /> Sincerely, <br /> / <br /> 1, V. <br /> Kirk Russell,P.E.,Chief <br /> Finance&Administration Section <br /> E-mail Copy Diane Hoppe,CWCB Board Member- South Platte River Basin <br /> CWCB Contracts file <br /> Interstate Compact Compliance•Watershed Protection•Hood Planning&Mitigation•Stream&Lake Protection <br /> Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning <br />