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<br />ST A TE OF COLOR A DO <br /> <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 /> <br /> <br />Bill Owens <br />Governor <br /> <br />March 28, 2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWeB Director <br /> <br />Dan McAuliffe <br />Dprmtv DiTPctor <br /> <br />Mr, Charles Hastings, Mayor <br />Town of Coal Creek, <br />P,O, Box 36 <br />Coal Creek, CO 81221-0036 <br /> <br />RE: Purchase of water rights <br />Loan Approval <br /> <br />Dear Chuck, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your request for a Small Project Loan from the Construction Fund, I understand <br />the loan will be used to purchase water rights for municipal use, <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of <br />$67,500 at the loan terms of 3.75% for 30 years, The approval includes the provision for a <br />1 % ($675) loan service charge, which may be paid at closing, or financed along with the <br />loan. I have attached a copy of the updated Board memo concerning the Town of Coal <br />Creek, Please refer to page 3 of that memo and to the section "Action taken by the <br />CWCB March 26, 2003," <br /> <br />When the Board approves a Small Project Loan from the Construction Fund there remain <br />several conditions: <br /> <br />a) A Fp.Flilihility Sturly iil rp.qIJirp.d We have reviewed the March 14, 2003 study titled <br />Feasibility Study, Town of Coal Creek Water Acquisition Project. The report meets <br />the requirements of the CWCB Construction Fund Guidelines for feasibility studies, <br />and has been accepted. <br />