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<br />CI:5{)/lb <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 />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />DeCember 4, 2002 <br /> <br />Greg E. WiUcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Wayne Miller, President <br />Kern Reservoir and Ditch Co. <br />2319 10th Street <br />Windsor, CO 80550 <br /> <br />Re: Kern Reservoir Rehabilitation <br />Follow-up Loan Recommendation <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear Wayne, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />recommended your follow-up loan to the General Assembly for approval. This loan request <br />will be included in the 2003 Water Project Construction Bill. Loan funds will be authorized <br />in spring 2003, once the Govemor has signed the bill. The loan is for rehabilitation of the <br />Kem Reservoir. <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of $3.62 <br />million at the loan terms of 5.1 % for 30 years or 4.8% for 20 years. I have attached a copy <br />of the updated Board memo concerning the Kern Reservoir and Ditch Company. Please <br />refer to page 4 of that memo and to the section "Action taken by the CWCB November 26, <br />2002." <br /> <br />When the Board approved this follow-up Loan it attached several conditions: <br /> <br />1. A Feasibility Study is required. John Van Sciver has reviewed the draft feasibility study <br />for this project prepared by Rocky Mountain Consultants Inc. John will continue to work <br />with your engineer to ensure that the study meets the requirements of the CWCB <br />Construction Fund Guidelines. <br />