Laserfiche WebLink
<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: (303) 866-3441 <br />FAX: (303) 866-4474 <br />WWW.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />July 31,2002 <br /> <br />GregE. Walcher <br />Executive Director <br /> <br />Town of Monument <br />Attn: Rick Sonnenburg, Town Manager <br />P.O. Box 325 <br />Monument, CO 80132 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Monument Dam Rehabilitation Project - Severance Fund Loan Approval <br /> <br />Dear Mr. Sonnenburg, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board approved your loan <br />request on July 24, 2002. The loan is for the rehabilitation ofthe Monument Lake Dam. <br /> <br />The Board approved an increase of $362,000 from the 2002 Severance Tax Trust Fund Perpetual <br />Base Account for the Monument Lake Dam Project for a new total amended loan amount of $2,443,000, <br />The loan terms are 5.5% for 30 years. I have attached a copy of the updated Board memo concerning <br />the Town of Monument's loan request. Please refer to page 6 of that memo and to the Section "Action <br />taken by the CWCB July 24, 2002". <br /> <br />The Board's approval was based on the Town of Monument meeting the following conditions: <br /> <br />I. The Town Council shall adopt a resolution or resolutions approving the loan. The Town of <br />Monument's Town Council shall adopt a resolution or resolutions approving the loan, and <br />pledges of revenues from the Town's "Water Enterprise". As collateral for the loan the Town <br />of Monument shall pledge revenues from its Water Enterprise backed by a rate covenant and <br />annual financial reporting. <br /> <br />2. The Colorado Water Conservation Board loan shall have paritv status. The Colorado Water <br />Conservation Board loan shall have parity status with any existing debt or Company with <br />respect to a pledge of revenues. <br /> <br />3. Anv collateral pledged for the loan shal be free of all liens and encumbrances. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Wate! Supply Protection. Conservation and Drought Planning <br />