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<br />, <br /> <br />.' <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: 13031 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLORADO <br /> <br />'0':' <br />c. ,. <br />, <br /> <br />Roy Romer <br />Governor <br /> <br />MEMORANDUM <br /> <br />J<'Imes S. lochhe.:ld <br />Executive Director, DNR <br /> <br />DariesC. Ule, P.E. <br />Director, eWeB <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Jan lilian, Contract Ad inistrat};- <br />Construction Fund Se tion <br /> <br />FROM: <br /> <br /> <br />DATE: <br /> <br />March 3, 1998 <br /> <br />SUBJECT: <br /> <br />Agenda Item 16(d), March 10, 1998, Board Meeting <br />Water Project Construction Loan Program <br />Contract Processing Status Report <br /> <br />INTRODUCTION. A Contract Status Report is attached showing the list of contracts completed <br />since the beginning of the fiscal year, July 1, 1997, the status of contracts in process, and <br />the projects awaiting contracts as of March 2, 1998, <br /> <br />CONTRACTS COMPLETED. A total of 24 contracts have been completed this fiscal year with a <br />total value of $5,96 million, Since the last board meeting in January, one contract shown <br />below, was completed, <br /> <br />1. Agricultural Ditch Company - rehab of the Welch ditch <br /> <br />$300,000 <br /> <br />CONTRACTS IN PROCESS. The status of nine contracts-in-process for $1,13 million is listed <br />below and on the attached report: <br /> <br />1, Arkansas Groundwater Users Association, a $590,590 loan out of the Arkansas River <br />Augmentation Account for the purchase of water rights was approved by the Board at its <br />September 1997 meeting. The contract documents were routed to the State Controller's <br />Office for final review and approval on February 24th. <br /> <br />2, Colorado River Water Conservancy District, Amendment #2 to decrease the final loan <br />amount from $20,000,000 to $16,255,724,12 and to adjust the security interest by (1) <br />obtaining a security agreement to secure the District's pledge of lease revenues used to <br />repay the CWCB loan in the event of default, (2) limiting CWCB's access to the annual <br />lease revenues to one loan payment, approximately $1.5M, and (3) including a reserve <br />debt service fund in the amount of $1 ,5M as part of the pledged security, The contract <br />