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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />- . <br /> <br />. <br /> <br />STATE ~ COLORI\DO <br /> <br />- <br /> <br />Colorado Water Conservation Board <br />Department' of Natural Resources <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (3031 866-4474 <br /> <br />Roy Romer <br />Covernor <br /> <br />MEMORANDUM <br /> <br />)<lmes S. lochherld <br />Executive Director, ONR <br />OariesC.lile, P.E. <br />Director, eweB <br /> <br />TO: <br /> <br /> <br />FROM: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Bill Green, P.E. 'fSr;-- <br />Project Planning and Construction <br /> <br />DATE: <br /> <br />November 20, 1997 <br /> <br />SUBJECT: <br /> <br />Agenda Item 16.c., November 24 and 25, 1997 Board Meeting - <br />Water Project Construction Loan Program - Request for Approval <br />for Revised Loans on Approved Projects - Town of Palisade - <br />Cottonwood Creek Pipeline Replacement <br /> <br />Introduction <br />The Board will be asked to approve an additional authorization of$I72,OOO for the Town <br />of Palisade's Cottonwood Creek replacement project. Please see the attached project <br />summary and map. <br /> <br />Backe:round <br />In November 1994, the Board gave conditional approval to a 30-year loan of $750,000 at <br />4.0 percent to the Town of Palisade for replacement of the Town's Cottonwood Creek <br />Pipeline. The loan was approved by the Board subject to: (1) satisfactory completion ofa <br />feasibility study and (2) the condition that the borrower is unable to obtain financing <br />through the Colorado Water Resources and Power Development Authority. <br /> <br />In the last three years, the staff has worked closely with the Town's staff and with the <br />Town's consultants in completing the feasibility work for the project. At the January 1997 <br />Board meeting (January Agenda Item No. 10,a,), the Board approved a grant of$9,500 <br />from the Operational Account of the Severance Tax Trust Fund to the Town for a portion <br />of the cost of the feasibility study involving a firm yield analysis of the Town's water <br />supply system. <br /> <br />The Town submitted, this week, a completed feasibility study by WestWater Engineering <br />of Grand Junction incorporating the firm yield analysis by Hydrosphere of Boulder. The <br />