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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street,Room 721 �e r <br /> Denver,Colorado 80203 I t c_ . <br /> Phone: 67441 �1 <br /> Faax::((303)866-4474 <br /> www.cwcb.state.co.us ,<3 <br /> John W. <br /> May 23, 2014 Governor Hickenlooper r <br /> Mike King <br /> DNR Executive Director <br /> Mr. Larry Kloberdanz, Secretary/Treasurer <br /> James Eklund <br /> Farmers Pawnee Canal Company CWCB Director <br /> P.O. Box 1865 <br /> Sterling, CO 80751 <br /> Re: Diversion Structure Replacement Project C150394 <br /> Mr. Kloberdanz: <br /> I am pleased to inform you that on May 22,2014,the Colorado Water Conservation Board <br /> approved your loan request for the Diversion Structure Replacement Project as described in the <br /> application and approved Loan Feasibility Study titled"Feasibility Study for Farmers Pawnee <br /> Canal Company Diversion Structure Replacement Project", dated March 15, 2014. The Board <br /> approved a loan not to exceed$2,067,470 ($2,047,000 for project costs and $20,470 for the 1% <br /> Loan Service Fee). The loan terms shall be 1.75%per annum for 30 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. Derek Johnson,P.E.,will be the Project Manager for this phase <br /> of the process and will work with you on the disbursements of your loan funds. You can <br /> contact him at(303) 866-3441 x3254. <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 />