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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> �R CIl�Sj� <br /> Department of Natural Resources 0v.c040 <br /> 1313 Sherman Street,Room 721 r_ i <br /> Denver,Colorado 80203 x * „ z, <br /> Phone:(303)866-3441 * <br /> Fax:(303)866-4474 ' 1876 <br /> www.cwcb.state.co.us ' (1 3_i <br /> May 23, 2014 Go Governor <br /> ve o <br /> Mike King <br /> DNR Executive Director <br /> Mr. Marty Peterson, President <br /> James Eklund <br /> Sanford Canal Company CWCB Director <br /> P.O. Box 92 <br /> Sanford, CO 81151 <br /> Re: Sanford Diversion and Headgate Rehabilitation Project C150401 <br /> Mr. Peterson: <br /> I am pleased to inform you that on May 22, 2014,the Colorado Water Conservation Board <br /> approved your loan request for the Sanford Diversion and Headgate Rehabilitation Project as <br /> described in the application and approved Loan Feasibility Study titled"Feasibility Study for <br /> Rehabilitation of the Sanford Core &Diversion at the Conejos River Confluence", dated <br /> November 22, 2013. The Board approved a loan not to exceed$101,000 ($100,000 for project <br /> costs and $1,000 for the 1% Loan Service Fee). The loan terms shall be 1.75%per annum for 30 <br /> years. <br /> I have attached a copy of the updated Board memo dated May 23,2014,that includes the Board's <br /> 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. Jonathan Hernandez,P.E.,will be the Project Manager for this <br /> phase of the process and will work with you on the disbursements of your loan funds. You <br /> can contact him at(303) 866-3441 x3234. <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 />