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�- � �o �- (�� <br />STATE OF COLOR.ADO <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 />December 1, 2009 <br />Mr. Dan Grant, Secretary <br />Supply Irrigating Ditch Company <br />P.O. Box 1826 <br />Longmont, CO 80501-1826 <br />Re: Supply Irrigating Ditch Company - Loan Amendment Approval <br />Dear Mr. Grant: <br />Bill Ritter, Jr. <br />Govemor <br />James Martin <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Depury Director <br />I am pleased to inform you that the Colorado Water Conservation Board approved your <br />loan request on November 18, 2009. The Board approved an increase of $610,040 ($604,000 <br />for project costs and $6,040 for the 1% loan service fee) from the 2009 Severance Ta�c Fund, for <br />a new total amended loan amount of $1,515,000 ($1,500,000 for project costs and $15,000 for <br />the 1% loan service fee). The loan will be at an interest rate of 2.6% for 30-years. I have <br />attached a copy of the updated Board memo concerning the Supply Irrigating Ditch Company's <br />request. Please refer to page 5 of that memo and to the Section "Action taken by the CWCB on <br />November 18, 2009". <br />The Board's approval was based on the Company meeting the following conditions. <br />Contractin�: An approved contract must be in-place before funds can be disbursed. <br />Vaughn McWilliams with our office will be in contact with you to initiate this <br />process. When all contract conditions are met and the contract is executed you may <br />request loan funds to cover eligible project expenses. You can contact Vaughn at <br />303-866-3441, ext 3227 regarding the requirements. <br />2. Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Tim Feehan will contact you regarding this phase of the <br />process. Tim will make construction site visits, which will be the basis of pay <br />estimates for disbursement of your loan funds. You can contact Tim Feehan at 303- <br />618-5010. <br />3. To utilize CWCB funding in a timely manner, the Company will have a one-year time <br />limit from the time of CWCB approval to execute a funding contract. If a contract is <br />not executed within one year of Board approval, the $1,515,000 will be de-authorized <br />unless the Board specifically approves a time extension. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />