C150016 Feasibilty Study 12/04/1997

• Contract/PO #: C150016
• Contractor Name: Idaho Springs, City of
• Contract Type: Loan
• Water District: 7
• County: Clear Creek
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Feasibility Study

STATE C . COLORADO
Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building ,`,
1313 Sherman Street
•
Denver,Colorado 80203
Phone: [phone]
FAX: [phone] Roy Romer
Governor
lames S.Lochhead
Executive Director,DNR
Daries C.Lile,P.E.
Director,CWCB
December 4, 1997
Mr. James J. White
City Administrator RE: Rehabilitation of Idaho Springs Reservoir
P.O. Box 907 Loan Recommendation
Idaho Springs, CO 80452
Dear Jim,
Concerning your application for a loan from the Construction Fund, I am pleased to inform you the
Colorado Water Conservation Board (CWCB) has decided to recommended your request for
$955,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is our
understanding these funds will be used to rehabilitate the Idaho Springs Reservoir, and to refinance
an existing short term CWCB Emergency Loan with a Standard CWCB Construction Fund Loan.
The CWCB approved a loan term of 30 years at an interest rate of 5%. I have attached a copy of
the updated Board memo concerning the City of Idaho Springs. Please refer to page 3 of that memo
and to the section"Action Taken by the CWCB,November 24, 1997".
When the Board recommends a loan request to be included in the Construction Fund Bill, there
remain several conditions:
a. The Bill must be approved by the General Assembly and signed by the Governor. This
is usually accomplished around June l's
b. The City of Idaho Springs must pass an ordinance. The ordinance is needed before we
can complete the loan contract. Please contact Jan Illian (866-3441) for help with this
requirement.
c. An approved contract must be in place before funds can be advanced. Jan Illian will
contact you concerning our contracting procedure. It usually takes 2 to 3 months to
complete the contract.