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<br />Colorado Water Conservati"on Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: 13031866.3441 <br />FAX: 13031 866.4474 <br /> <br />STATE OF COLORI\DO <br />fll./K ~ <br />FPR/tf -# ':, <br />$///S, IJ <br /> <br />Roy Romer <br />Governor <br /> <br />December 18, 1998 <br /> <br />jilmes S. Lochhead <br />Ex~cutive Director, DNR <br /> <br />Oaries C. Ule, P:E. <br />Djrectol~ eWeB <br /> <br />Peter H. Evans <br />Acting Director, eWeB <br /> <br />Mrs. Laura J. Woods <br />Columbine Ranches Property Owners Association <br />11246 Lewistown Street <br />Commerce City, CO 80022 <br /> <br />Dear Mrs. Woods, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB), at their <br />November 1998 meeting in Denver, unanimously decided to recommend your application for a <br />loan from the CWCB Construction Fund to the General Assembly for approval. Your loan request <br />will be included in the Board's annual Water Project Construction Bill. We understand the loan <br />,will be used to purchase water rights for augmentation ofthe Association's existing irrigation well. <br /> <br />The Board recommended a loan from the Construction Fund in a maximum amount of $305,250' or <br />75-percent of the total project cost, whichever is lesS. The financing temis for this loan shall be at <br />an annual percentage rate of 4. 75-percent for a duration of 30 years. Eligible costs include, but are <br />not limi'ted to, the costs to purchase water rights for augmentation, and directly related costs of <br />engineering and construction associated with actually placing these rights into use for <br />augmentation. Collateral for the loan shall be a security interest in the stream of income derived <br />from assessments, and the water rights that are purchased with this loan. <br /> <br />The Board recommended your loan with the following conditions: <br /> <br />a. The feasibility study must be approved. The feasibility report prepared by Robert A. <br />Longenbaugh, Consulting Water Resource Engineer, dated November 12, 1998, has <br />been reviewed by Bill Green of my staff and found to be in compliance with the <br />"Guidelines for Financial Assistance from the CWCB Construction Fund." <br /> <br />b. An approved contract must be in place before loan funds can be advanced., Jan Illian <br />will contact you and your attorney concerning our contracting procedure. We <br />lmderstand you plan to use the funds as soon as they become available on or about July <br />I, 1999 after the Bill has been signed by the Governor. We have a heavy contracting <br />workload, so to meet this deadline we will assign your project a high priority. We will <br />also need to communicate frequently. <br />