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<br />,It <br /> <br />STATE C. COLORADO <br />~ <br />~ <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />'313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (3031 866,3441 <br />FAX: (3031 866,4474 <br /> <br />Bill Owens <br />Governor <br /> <br />Greg E. Walcher <br />Executive Director, DNR <br /> <br />Peter H. Evans <br />Acting Director, ewes <br /> <br />February 10, 1999 <br /> <br />Mr. Ruben Hergert, President <br />Woods Lake Mutual Water and Irrigation Company <br />12315 Weld County Road 72 <br />Eaton, CO 80615 <br /> <br />Re: Woods Lake Project Loan Supplemental Request- Contract #C15381O <br /> <br />Dear Mr. Hergert: <br /> <br />I am pleased to inform you that at the January 27, 1999 meeting of the Colorado Water <br />Conservation Board, the Board approved a loan increase to the Woods Lake Mutual Water and <br />Irrigation Company's original 1997 loan in the amount of $270,000, The new total loan amount <br />of $458,000, not to exceed 83 percent of actual project costs, is for the rehabilitation of the <br />Woods Lake Dam. The term of the original loan remains for 30 years at the lending rate is 3.75 <br />percent. <br /> <br />As security for the amended loan, it is expected that the Company will pledge revenues <br />from their increased assessments as well as increase the value of their original pledged CD equal <br />to one annual payment. <br /> <br />Please coordinate with Jan Illian of this office who will be responsible for drafting and <br />processing all matters related to the contract amendment. No additional loan funds may be <br />disbursed until a fully executed amended contract is in place. <br /> <br />Mike Serlet of this office will continue to be responsible for reviewing the project plans <br />and specifications and for all matters related to project construction including approval of design <br />and construction payments. <br /> <br />You may also want to refer to Section 5.0 and Appendices E, F and G of the Guidelines <br />for Financial Assistance through the Colorado Water Conservation Board Construction Fund <br />for information relating to design and construction administration of CWCB-funded projects. <br />Please let us know if you need a copy of the Guidelines. <br />