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DNR COLORADO <br /> CO Colorado Water <br /> ..' Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver,CO 80203 <br /> January 28, 2015 <br /> Mr. Shane Hale, City Manager <br /> City of Cortez <br /> 210 East Main Street <br /> Cortez, CO 81321 <br /> Re: Water Meter Replacement Project <br /> Mr. Hale: <br /> I am pleased to inform you that on January 27, 2015, the Colorado Water Conservation Board approved <br /> your loan request for the Water Meter Replacement Project as described in the application and <br /> approved Loan Feasibility Study titled "Feasibility of the Water Meter Replacement Project for the City <br /> of Cortez," dated November 2014. The Board approved a loan not to exceed $858,500 ($850,000 for <br /> project costs and $8,500 for the 1% Loan Service Fee). The loan terms shall be 2.1% per annum for 10 <br /> years. <br /> After the Board approves a loan there are a few steps that remain in the loan process including: <br /> Contracting: An executed loan contract must be in place before funds can be disbursed for eligible <br /> project expenses. Peg Mason will contact you to initiate the loan contracting process. However you can <br /> reach her at (303) 866-3441 x3227. <br /> Design/Construction: You must adhere to the CWCB Design and Construction Administration Procedures. <br /> Anna Mauss, P.E., will be the Project Manager for this phase of the process and will work with you on the <br /> disbursements of your loan funds. You can contact her at (303) 866-3441 x3224. <br /> On behalf of the Board, I would like to thank you for your interest in a loan from the Colorado Water <br /> Conservation Board. <br /> Sincerely, <br /> zc <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments): April Montgomery, CWCB Board Member - San Juan/Dolores River <br /> Basin <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us (9,w O 0 <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director `* j <br /> 18764 <br />