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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (lOl) 866-l441 <br />FAX: (3Q3) 866-0\0\74 <br />www.cwcb.stace.co.us <br /> <br />Q <br /> <br />Bill Owens <br />Govemor <br /> <br />September 29,2000 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Dan McAuliffe <br />Acting Director <br /> <br />Mr. Fred Walker, President <br />Tunnel Water Company <br />P.O. Box 1584 <br />Fort Collins, CO 80522 <br /> <br />RE: Rehabilitation of Laramie-Poudre Tunnel <br />Emergency Loan Approval <br /> <br />Dear Fred, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) <br />approved your Emergency Loan request on September 25, 2000. I understand the loan <br />will be used to rehabilitate the Laramie-Poudre Tunnel. <br /> <br />The Board approved an Emergency Loan from the Construction Fund in a maximum <br />amount of $1,6000,000. You may select loan terms of 4.5% for 30 years, 4.25% for 20 <br />years, or 4% for 10 years at your option. I have attached a copy of the updated Board <br />memo concerning the Tunnel Water Company. Please refer to page 5 of that memo and <br />to the section "Action taken by the CWCB September 25, 2000." <br /> <br />When the Board approves an Emergency Loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. John Van Sciver has drafted the study, and will <br />complete it with input from you and your engineer. The CWCB specified that the study <br />be completed by November 30,2000. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IlIian has <br />placed this project on our contracting "hot list" and has initiated the loan contracting <br />process. I understand the project has a start construction date of December 1, 2000, <br />and that the Company will need funds to pay contractor bills on or about January 1, <br />2001. Our goal is to have the loan contract signed by all parties to meet these <br />scheduled dates. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />