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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 /> February 1, 2016 <br /> Nelson Tipton, President <br /> Lake McIntosh Reservoir Company <br /> 4309 State Highway 66 <br /> Longmont, CO 80504 <br /> Re: Lake McIntosh Reservoir Outlet Works Repair <br /> Mr. Tipton: <br /> I am pleased to inform you that on January 26, 2016, the Colorado Water Conservation Board approved <br /> your loan request for the Lake McIntosh Reservoir Outlet Works Repair as described in the application <br /> and approved Loan Feasibility Study titled "Lake McIntosh Reservoir Company Outlet Works Repair - <br /> Feasibility Report," dated November 25, 2015. The Board approved a loan not to exceed $1,727,100 <br /> ($1,710,000 for project costs and $17,100 for the 1% Loan Service Fee). The loan terms shall be 2.70% <br /> per annum for 30 years. Attached is a copy of the updated Board memo dated January 27, 2016 that <br /> includes the Board's approval. <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, Loan Contracts Manager, will contact you to initiate the loan contracting <br /> process. She can be reached at (303) 866-3441 x3227. <br /> Design/Construction: You must adhere to the CWCB Design and Construction Administration Procedures <br /> including an invitation to the Prebid, Preconstruction and Bid Opening meetings. Jonathan Hernandez, <br /> P.E., will be the Project Manager for this phase of the process and will work with you on the disbursements <br /> of your loan funds. He can be reached at (303) 866-3441 x3234. <br /> On behalf of the Board, I would like to thank you for your interest in a loan from the CWCB. <br /> Sincerely, <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments): Diane Hoppe, CWCB Board Member - South Platte River Basin <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.usJ <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director <br /> i'. <br />