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<br />. <br /> <br />STATE cf COLORADO <br />o <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1 31 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: 1303) 866.4474 <br /> <br />Roy Romer <br />Governol <br /> <br />December 16, 1996 <br /> <br />James S. LochheCld <br />Executive Director, DNR <br /> <br />D;nies C.lile, RE. <br />Director, eWeB <br /> <br />Mr. C. R. (Dick) Evans, President <br />Excelsior Irrigating Co. <br />231 Nyberg Rd. <br />Pueblo, CO 81006 <br /> <br />RE: Rehabilitation of the Excelsior Ditch <br />Small Project Loan Approval, and <br />Standard Loan Recommendation. <br /> <br />Dear Dick, <br /> <br />-'1 <br /> <br />Concerning your application for loans from the Construction Fund, I an1 pleased to inform you <br />the Colorado Water Conservation Board (CWCB) has approved a loan in amount of $100,000 <br />from the Small Project Loan Account to complete Phase I rehabilitation of the Excelsior .Ditch. <br />The CWCB will also recommend your request for $230,000 to the General Assembly for <br />consideration in the annual Construction Fund Bill. it is our understanding these additional funds <br />will be used for Phase II rehabilitation of the Excelsior Ditch. <br /> <br />^-- <br /> <br />The CWCB approved loan terms of 30 years at an interest rate of 3.75%. I have attached a copy <br />of the updated Board memo concerning the Excelsior Irrigating Company. Please refer to page <br />3 of that memo and to the section "Action Taken by the CWCB, November 25,1996". <br /> <br />When the Board approves a loan, or recommends your loan request to be included in the <br />Construction Fund Bill, there remain several conditions: <br /> <br />a. The bill must be approved by the General Assembly and signed by the Governor <br />before the Phase II loan can be funded. This is usually accomplished around June <br />1st. <br /> <br />b. You must adhere to the CWCB Guidelines for Financial Assistance. A copy of our <br />guidelines has been provided to you. <br /> <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. The CWCB has required that the <br />