BOARD00026 ‎(2)‎

• Board Meeting Date: 9/19/2006
• Description: CF Section - Revisions to Existing Loans - Logan Irrigation District - Prewitt Reservoir Emergency Spillway Project
• Board Meetings - Doc Type: Memo

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STA TE OF COLORADO

Colorado Water Conservation Board

Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

Memorandum

Bill Owens
Governor

Russell George
Executive Director

TO:

Colorado Water Conservation Board

Rod Kuharich
CWCB Director

Dan McAullife
Deputy Director

FROM:

Ti~ Feehan, P.E., pr~je~t~....~Jpr ~
MIke Serlet, P.E., ChIet:-' U
Water Supply Planning an ' lllance

DATE: September 1, 2006

SUBJECT: Agenda Item No. 6a, September 19-20, 2006, Board Meeting
Water Supply Planning and Finance - Revisions to Existing Loans
Logan Irrigation District - Prewitt Reservoir Emergency Spillway Project

INTRODUCTION
The Logan Irrigation District (District) is requesting an increase of$194,081 to their May 2006
authorization of$306,419 for Prewitt Reservoir Emergency Spillway Construction Project. The
requested loan increase is based on actual construction bids received from Contractors to
complete the work for the District.

BACKGROUND

The District will be the contracting agencies on behalf ofthe owners of Prewitt Reservoir, who
are as follows:

Logan Irrigation District (District)
Illiff Irrigation District (lID)
Morgan Prewitt Reservoir Company (MPRC)

17/31 Interest (54.8%)
8/31 Interest (25.8%)
6/31 Interest (19.4%)

Collectively, these three owners conduct business as the Prewitt Operating Committee, through a
Governance Contract executed in January 2006. There are seven individual members on the
Committee, three from District and two each from lID and MPRC. The agreement formalized
their historical relationship and business procedures, and addresses each entity's financial
responsibility with respect to the Prewitt Reservoir. Although the Governance Contract was
officially entered into this year, the three owners of the Prewitt have an excellent working
relationship and the Prewitt Reservoir has been operating this way for over 80 years. At a joint
meeting of the three Boards in March 2006, it was agreed that the District would be the sponsor
of the project and accept all financial responsibility for the purposes of this loan, while the lID,
and the MPRC agreed to be cooperating entities, providing a pro-rata share of the loan payment
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