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STATE OF COLORADO <br /> Colorado Water Conservation Board ,z<<“,,, <br /> Department of Natural Resources <br /> 1313 Sherman Street,Room 721 <br /> Denver,Colorado 80203 '4=-- *,y ,r , <br /> Phone:(303)866-3441 <br /> Fax:(303)866-4474 *tg76' <br /> www.cwcb.state.co.us <br /> May 23, 2014 Go Hickenlooper <br /> Governor <br /> Mike King <br /> DNR Executive Director <br /> Mr. Dale Leach, President <br /> Louden Irrigating Canal&Reservoir Company James Eklund <br /> CWCB Director <br /> 8109 South County Road 9 <br /> Fort Collins, CO 80528 <br /> Re: Emergency Diversion Structure and Ditch Repair C150398 <br /> Mr. Leach: <br /> I am pleased to inform you that on May 22, 2014, the Colorado Water Conservation Board <br /> approved your loan request for the Emergency Diversion Structure and Ditch Repair as <br /> described in the application and approved Loan Feasibility Study titled "Emergency Loan <br /> Application and Feasibility Study" dated March 31, 2014. The Board approved a loan not <br /> to exceed $161,600 ($160,000 for project costs and $1,600 for the 1% Loan Service <br /> Fee). The loan terms shall be 2.70% per annum for 30 years. <br /> I have attached a copy of the updated Board memo dated May 23, 2014, 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 <br /> including: <br /> A) Contracting: An approved contract must be in place before funds can be <br /> disbursed. Peg Mason will contact you to initiate the loan contracting process for <br /> this project. When all of the contract conditions are met and the contract is <br /> executed the Company may request loan funds to cover eligible project expenses. <br /> 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. Mike Serlet, P.E., will be the Project Manager for this <br /> the process and will work with you on the disbursements of your loan funds. You <br /> contact him at (303) 656-3720. <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 />