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<br />:"'~:'.,:. : <br /> <br />.', <br />. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <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 />vrww.cwcb.state.co.us <br /> <br /> <br />May 5, 2004 <br /> <br />Bill Owens <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. Don Higbee, Secretary <br />Lower Arkansas Water Management Association <br />P.O. Box 1161 <br />Lamar, CO 81052 <br /> <br />Rod Kuharich <br />ewCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Nwnber C153768 - Water Rights Purchase <br /> <br />Dear Mr. Higbee: <br /> <br />1bis letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />April 1 , 2004. <br /> <br />In accordance with the Contract, the Lower Arkansas Water Management Association owes $277,021.11 for interest <br />during construction, as calculated on the attached spreadsheet, due by May 20, 2004. Make your check for the interest payable to <br />the Colorado Conservation Board and include the contract number on the check. The Colorado Water Conservation Board also <br />offers electronic fund transfers for your convenience ( See attachment for details). <br /> <br />As requested., your loan will be amended to reflect the $1,875,583.50 that you actually borrowed. Your first annual loan <br />payment of $67,200.00 will be due on April 1, 2005. The annual loan payment of $67,200 will be from April 2005 through 2014 <br />lmd will adjust to an annua1loan payment of $89,296.70 from April 2015 through 2044. Ian Illian from our office will provide <br />you with a revised Promissory Note. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the <br />renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Lower Arkansas Water Management <br />Association on the successful completion of this project. Please call if you have any questions regarding this matter or if we can <br />be of service to you in the future. <br /> <br />~"Y'v<~ <br />~~. <br /> <br />i~f~~1pPlY Planning and Finance Section <br /> <br />cc. Harold Miskel, CWCB Board Member <br />DNR Accounting <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br /> <br />Contract Amount = $2,300,000.00 <br />Expended Amount = $1,875,583.50 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />