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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources �• <br /> 4, I <br /> 721 Centennial Building <br /> 1313 Sherman Street <br /> Denver,Colorado 80203 <br /> Phone: (303)866-3441 <br /> FAX:(303)866-4474 Roy Romer <br /> Governor <br /> James S.Lochhead <br /> Executive Director,DNR <br /> December 26, 1996 Director,CIWCBE <br /> Mr. Ruben Hergert, President <br /> Woods lake Mutual Water and RE: Rehabilitation of Woods Lake Dam <br /> Irrigation Company Loan Recommendation <br /> 12315 Weld County Road 72 <br /> Eaton, CO 80615 <br /> Dear Mr. Hergert, <br /> Concerning your application for a loan from the Construction Fund, I am pleased to inform you <br /> the Colorado Water Conservation Board (CWCB) has decided to recommend your request for <br /> $188,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is <br /> our understanding these funds will be used to rehabilitate the Woods Lake Dam. <br /> The CWCB approved a loan term of 30 years at an interest rate of 3.75%. The CWCB also <br /> approved a grant in amount of$3000 to pay for a portion of the feasibility study. I have attached <br /> a copy of the updated Board memo.concerning the Woods lake Mutual Water and Irrigation <br /> Company. Please refer to page 2 of that memo and to the section "Action Taken by the CWCB, <br /> November 25,1996". <br /> When the Board recommends your loan request to be included in the Construction Fund Bill, <br /> there remain several conditions: <br /> a. The bill must be approved by the General Assembly and signed by the Governor. <br /> This is usually accomplished around June 1st. <br /> b. You must adhere to the CWCB Guidelines for Financial Assistance. A copy of our <br /> guidelines has been provided to you. <br /> c. The Feasibility Study must be completed. John Van Sciver will review your draft <br /> feasibility study. John will assist you with revisions to the study so that it complies <br /> with the Guidelines and statutory requirements. <br />