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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1580 Logan Street, Suite 600 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />F�: (303) 894-2578 <br />w ww. c wcb. state. co. us <br />JUIy 22, 2� 11 <br />Mr. James Yahn, General Manager <br />North Sterling Irrigation District <br />112 N. 8th Ave <br />Sterling, CO 80751 <br />Re: Point of Rocks Dam and Spiliway Improvemen'ts Project <br />Loan Contract Number C 150293 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br />Dear Mr. Yahn: <br />John W. Hickenlooper <br />Governor <br />Mike King <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />This letter is to advise you that the Project referenced above was substantially completed on June l, 2011. In <br />accordance with the Loan Contract, the District owed $34,580.07 for interest accrued during the construction <br />phase (IDC) of the Project as shown on the attached Project Expenditure Schedule. Your payment was <br />received on July i 2, 2011. <br />The total amount disbursed under this contract was $1,094,840.00 ($1,084,000.00 plus $10,840.00 for the 1% <br />service fee). The annual payment shall be $68,583.04 as established in the Promissory Note (attached). <br />The first annual loan payment will be due on June 1, 2012. <br />In accordance with the Borrower's Liability Insurance Provision of the Loan Contract, please note that a <br />renewed insurance certificate needs to be submitted to the CWCB annually. <br />It has been a pleasure working with the North Sterling Irrigation District on this loan. Please don't <br />hesitate to call if you have any questions regarding this matter. <br />Sincerely, <br />�rz T, �. r E£N/�iJ <br />Tim Feehan, P.E., Chief <br />CWCB Finance Section <br />cc: Eric Wilkinson, CWCB Board Member, South Platte Basin <br />Current Contract Amount = $1,094,840.00 <br />Expended Amount = $1,094,840.00 <br />Water Supply Protection • Watershed Protection & Flood MiNgation • Stream & Lake Protection • Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />