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<br />'t <br /> <br />. <br /> <br />STATE ct COLORADO <br /> <br />- <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (03) 866-3441 <br />fAX: (3031866-4474 <br /> <br />Roy Romer <br />Governor <br /> <br />December 4, 1997 <br /> <br />J<lmes S, Lochhetld <br />Executive Director, DNR <br /> <br />OMies C. lile, RE. <br />Director. eWeB <br /> <br />Mr, Manuel Pineda <br />North Poudre Irrigation Company <br />P.O, Box 100 <br />Wellington, CO 80549 <br /> <br />RE: System Rehabilitation <br />Loan Recommendation <br /> <br />Dear Mr, Pineda, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you the <br />Colorado Water Conservation Board (CWCB) has decided to recommended your request for <br />$500,000 to the General Assembly for consideration in the annual Construction Fund Bill. It is our <br />understanding the loan funds will be used to rehabilitate portions of the North Poudre system <br />involving Reservoirs #5 and #6, and the Buckeye Lateral, The Board also approved a grant in <br />amount of $1000 to complete the feasibility study. <br /> <br />The CWCB approved a loan term of 30 years at an interest rate of 4,28%. I have attached a copy of <br />the updated Board memo concerning the North Poudre Irrigation Company, Please refer to page 3 <br />of that memo and to the section "Action Taken by the CWCB, November 25, 1997". <br /> <br />When the Board recommends a loan request to be included in the Construction Fund Bill, there <br />remain several conditions: <br /> <br />a, The Bill must be approved by the General Assembly and signed by the Governor. This <br />is usually accomplished around June 1~. <br /> <br />b. The North Poudre Irrigation Company must oass a stockholder resolution, The <br />resolution is needed before we can complete the loan contract. Jan Illian (866-3441) will <br />send you a copy of the resolution, Please contact Jan if you need help with this <br />requirement. <br /> <br />c, The Feasibility Studv must be completed. I will review the study to insure that the <br />content is in compliance with the Guidelines and statutory requirements, <br />