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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 /> July 25, 2016 <br /> Scott Hummer, General Manager <br /> North Poudre Irrigation Company <br /> P.O. Box 100 <br /> Wellington, CO 80549 <br /> Re: Rehabilitation of the Livermore Irrigation Tunnel <br /> Mr. Hummer: <br /> I am pleased to inform you that on July 20, 2016, the Colorado Water Conservation Board approved your <br /> loan request for the Rehabilitation of the Livermore Irrigation Tunnel as described in the application <br /> and approved Loan Feasibility Study titled "Feasibility of the Livermore Irrigation Tunnel <br /> Rehabilitation Project"dated June 6, 2016. The Board approved a loan not to exceed $1,451,673 <br /> ($1,437,300 for project costs and $14,373 for the 1% Loan Service Fee). The loan terms shall be 2.25% <br /> per annum for 30 years. <br /> I have attached a copy of the updated Board memo dated July 22, 2016 that includes the Board's <br /> approval. 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. Derek Johnson, P.E., will <br /> be the Project Manager for this phase of the process and will work with you on the disbursements of your <br /> loan funds. He can be reached at (303) 866-3441 x3254. <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., Chie <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments): Jim Yahn, CWCB Board Member - South Platte River Basin <br /> (Dv"co46 <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director '* <br /> 4./876 7 <br />