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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3-1-11 <br />FAX: (303) 566-=1-~7-~ <br />www.cwcb. state.co. us <br />May 12, 2009 Bill P.itter )r. <br />Governor <br />NOTICE OF PROJECT SUBSTANTIAL COMPI,ETION AND REPAYMENT ~ 3~~~ ~~` I~. Sherman <br />ii~c~cutiv~~ Director <br />Jennifer L.. Gimbell <br />Mr. Mark Upton, President CWCB Director <br />Pinewood Springs Water District <br />183 Cree CouTt Dan McAuliffe <br />Lyons, CO 80540 CwCB Deputy <br />Director <br />Re: Contract Number C150180 - System Rehabilitation <br />Dear Mr. Upton: <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />May 1, 2009. <br />In accordance with the Contract, the Pinewood Springs Water District owes $164,986.88 for interest during <br />construction, as calculated on the attached spreadsheet, due by May 29, 2009. Please make your check for interest during <br />construction payable to the Colorado Water Conservation Board and include the Contract Number on the check. <br />Your first loan payment in the amount of $162,600.25 is due on May 1, 2010 . The $162,600.25 annual payment was <br />calculated based on a$2,811,689.00 final loan balance at 4.0% for 30-years, which includes a 1% loan service fee of $27,839.00. <br />The 1`% loan service fee was calculated from your final cumulative loan balance of $2,783,850.00. Please see the attached Loan <br />Repayment Schedule and a copy of the Promissory Note. <br />In accordance with the Borrower's Liability Insurance Provision of the Coniract, Paragraph A.6, please note that the <br />renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually. <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Pinewood Springs Water District on <br />the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service to <br />you in the future. <br />Sincerely, <br />~~ <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br />cc. Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />C'onh~act Amount ~2.311,689.00 <br />E~pended Amount $2,~i 11.689.00 <br />Fl~~oa Pri~tccHon • Watcr Supply Planning and Financ~~ • Strcam ~nd Lakc Pmt~~cH~~n <br />W~ter Supply Pruti~cti~m • C~msc~rvtitiun r~rn1 Drought Pl~uu~in~ <br />