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CT2015-027 Increase 2 Approval Letter
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CT2015-027 Increase 2 Approval Letter
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Last modified
12/16/2016 4:01:19 PM
Creation date
7/21/2015 9:08:18 AM
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Template:
Loan Projects
Contract/PO #
CT2015-027
C150341
Contractor Name
Pisgah Reservoir and Ditch Company
Contract Type
Loan
County
Teller
Loan Projects - Doc Type
Approval Letter
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DNR COLORADO <br /> CO . Colorado Water <br /> .. Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> July 20, 2015 <br /> Mr. Wayne Whittaker <br /> Pisgah Reservoir and Ditch Company <br /> P.O. Box 352 <br /> Rocky Ford, CO 81067 <br /> Re: Mount Pisgah Dam/ Wrights Reservoir Oultet Works Rehabilitation Project <br /> Mr. Whittaker: <br /> I am pleased to inform you that on July 15, 2015, the Colorado Water Conservation Board approved a <br /> loan increase for Mount Pisgah Dam/ Wrights Reservoir Oultet Works Rehabilitation Project of $623,170 <br /> ($617,000 for project costs and $6,170 for the 1% Loan Service Fee) for a total loan not to exceed <br /> $1,172,261 ($1,160,655 for project costs and $11,606 for the 1% Loan Service Fee). The loan terms <br /> shall remain 30 years at 1.75% per annum. <br /> In addition, the loan increase requires a change in the collateral securing the loan. The collateral will <br /> now include Wright's Reservoir (aka Mount Pisgah Reservoir) and Mount Pisgah Dam including all <br /> associated appurtenances, right-of-ways, easaements, and the underlying parcel. <br /> As you are aware, an amended contract must be in place before the additional funds can be disbursed. <br /> Peg Mason will initiate the loan amendment process. Peg can be reached at (303) 866-3441 x3227 <br /> regarding the status of the amendment. <br /> On behalf of the Board, I would like to thank you for your interest in a loan from the Colorado Water <br /> Conservation Board. <br /> Sincerely, <br /> 40 #0 <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments): Alan Hamel, CWCB Board Member - Arkansas River Basin <br /> of Coto <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us f'-‘\1; ' .`9a, <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director I * L <br /> N4-/876 t% <br />
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