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<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 />December 23,2002 <br /> <br />Bill Owens <br />Governor <br /> <br />Mr. John Zadel, General Manager <br />Central Weld County Water District <br />2235 2nd Avenue <br />Greeley, Colorado 80631 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />RE: Loan to Construct Proposed Dry Creek Reservoir <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Dear John: <br /> <br />I am pleased to inform you that on November 26,2002 the Colorado Water Conservation Board <br />(CWCB) recommended your loan to the General Assembly for approvaL-Your loan request will be <br />included in the 2003 Water Project Construction Bill. Loan funds will be authorized in Spring 2003, <br />once the Governor has signed the bill. I understand the loan will be used to construct a new water <br />storage reservoir in a 50/50 partnership with the Little Thompson Water District. <br /> <br />The Board approved a loan from the Severance Tax Trust Fund - Perpetual Base Account in a <br />maximum amount of$3,937,500. The loan terms are 4.15 % for 20 years. I have attached a copy of <br />the updated Board memo that includes a section "Action taken by the CWCB on November 26,2002." <br />The Board also added a condition ofloan approval that Central Weld County Water District submit, <br />for acceptance and approval by the CWCB, a Water Conservation Plan fulfilling all requirements of <br />Sec. 37-60-126, c.R.S. Please coordinate with Kathie Luckie of our staff (303-866-3370) on this <br />item. - <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibility Study is required. Bruce Johnson has reviewed the preliminary feasibility <br />study titled "Feasibility Study for Construction of Dry Creek Reservoir. "- November <br />2002. Please continue to work with him to finalize this report. The report, in <br />combination with the CWCB board memo dated November 15, 2002 will meet the <br />requirements of the CWCB Construction Fund Guidelines for feasibility studies. <br /> <br />b) An approved contract must be in place before funds can be advanced. J an Illian will <br />place this project on our contracting "hot list" and will initiate the loan contracting <br />process. Once the contract is finalized the Company may request loan funds to cover <br />eligible project expenses. For future reference Jan's phone number is 303-894-2572. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />