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e e e Colorado Water Conservation Board State of Colorado December 23, 1998 Page 2 The project will: a) provide an additional operational supply and required storage for the build-out of Consolidated's service area; b) significantly enhance our ability to divert and put to beneficial use all the water we are entitled to under our various decrees; c) provide a sufficient dry year supply for the benefit of our Stockholders and, d) meet our water supply needs for our projected demands aside from our continuing efforts to acquire small amounts of various Clear Creek water rights as they may become available. The Feasibility Study provides detail on Consolidated's efforts to develop additional storage and water supplies from 1980 to the present time; the process by which the Fortune site was acquired and the progress to date; the construction time-table; and the financial data to show the loan payback schedule. If we are able to secure the $10,000,000 loan, the project time-table will be accelerated by two to three years. The only other option available to Consolidated is to secure bank financing to supplement cash. That option would add two to three years to the construction schedule and raise the cost of the project to the Stockholders by an estimated $2,000,000. We trust that the data presented is adequate for your needs and we are hopeful that we can meet the criteria and successfully secure this loan. If any additional information is required or there are questions, please contact this office and we will be happy to provide whatever you need. Sin7ely, i / /VL--- ~~-4/d#t- Walter S. Welton, PLS/PE President Irm cc: John W. Van Sciver, Marketing Director, CWCB William E. Green, P.E., Manager of Planning, CWCB William P. Stanton, P.E., Chief, Project Planning and Construction Section, CWCB CMWCo Board of Directors CMWCo Officers Monte E. Edwardson, Water Supply & Treatment Manager John J. Boyle, Capital Projects Manager