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I <br /> ,^ .NR COLORADO <br /> CO i Colorado Water <br /> ' Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 721 <br /> Denver, CO 80203 <br /> September 12, 2014 <br /> Ms. Katherine Seetch, Secretary a Treasurer <br /> Sterling Irrigation Company <br /> P.O. Box 1825 <br /> Sterling, CO 80751 <br /> Re: Emergency Sterling Ditch Rehabilitation Project <br /> Ms. Seetch: <br /> I am pleased to inform you that on September 11, 2014, the Colorado Water Conservation Board approved <br /> your loan request for the Emergency Sterling Ditch Rehabilitation Project as described in the <br /> application and approved Loan Feasibility Study titled "Emergency Loan Application and Feasibility <br /> Study"dated July 29, 2014 2014. The Board approved a loan not to exceed $101,000 ($100,000 for <br /> project costs and $1,000 for the 1% Loan Service Fee). The loan terms shall be 10 years at a rate of <br /> 1.50% per annum. <br /> I have attached a copy of the updated Board memo dated September 12, 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 Mason <br /> will contact you to initiate the loan contracting process for this project. When all of the <br /> contract conditions are met and the contract is executed the Company may request loan funds <br /> 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 Administration <br /> Procedures. Jonathan Hernandez, P.E., will be the Project Manager for this phase of the <br /> process and will work with you on the disbursements of your loan funds. You can contact him at <br /> (303)866-3441 x3234. <br /> 7t= <br /> /O�F cOlp <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us < ` <br /> rn <br /> John W.Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director * ip * <br /> *1876* <br />