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• � �ca�oRa�o <br />� Colorado Water <br />; Conservation Board <br />� Gepartmer,t ot NaturaC Resources <br />1313 Sherman Street, Room 718 <br />Qenver, CD 80203 <br />May 30, 2017 <br />Keith Caldon, President <br />Sanchez Ditch and Reservoir Company <br />RR 1 Box 2i 5 <br />San Acacio, Cp 81 t 51 <br />Re: Sanchez Reservoir Outlet Rehabilitation Project • Loan Inaease <br />ConCract No. CT2015-d12 (C1503�42) <br />Mr. Caldon: <br />I am pleased to inform you that on May 17, Z017 the Colorado Water Conservation Board approved a loan <br />increase for the Sanchez Reservoir Outlet Rehabilitation Project of $121,200.00 {120,000.0� for Project <br />co5is and 51,200.00 for the 1% �oan Service Fee) for a total loan amouni not to exceed 51,502,476.Q0 <br />($1,487,600.00 for Project costs and 514,876.00 for the 196 Loan Service Fee). The loan terms shall <br />remain 40 years at 2.096 per annum with interest only payments the first five years and the remaining <br />balance paid over 35 years. Security for the loan shall remain as originalty contracked. <br />I have attached a copy of the updated Board memo dated May 19, 2017 that inctudes the Board's <br />approval. <br />As you are aware, an amended contract must be in place before the additianal funds can be disbursed. Peg <br />Mason, Loan Contracts Manager, wilt initiate the loan amendment process. You are welcome to contact <br />Peg at (303) 86b-3441 x3227 regarding the status of the amendment. <br />On behalf of the Board, I would like to thank you for your interest in a CWCB toan for this valuable <br />project. <br />Sincerely, <br />Kirk Russell, P.E., Chief <br />Finance Section <br />Attachment: Updated Baard Memo <br />P 303.866.3441 F 3Q3.86b.4474 www.cwcb.state.co.us <br />John W. Ni[kenlooper, Governor ; Robert Randall, DNR Executive Director � Lauren Ris, CWtB Acting Director <br />oF �9r� <br />��� R . <br />��: ����.� <br />i ,v, <br />�.• �. i M h '.; <br />� « .'. < :� .,:, <br />, .'}a�5"' <br />