BOARD00107 ‎(2)‎

• Board Meeting Date: 1/23/2007
• Description: CF Section - New Loans - Wood Lake Mutual Water and Irrigation Co. - Angel lake Outlet Repair
• Board Meetings - Doc Type: Memo

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Wood Lake Mutual Water and Irrigation Company
January 23-24, 2007

Agenda .Item 9g

control for the outlet and service spillway, and the outlet operator and gate would also be
replaced.

Alternative 3, Line the Existing Outlet Conduits - This option considered lining the outlet
conduit and the spillway conduit with either an HDPE (high density polyethylene) Liner or using
and In-situ Form (in-place) lining process. Inspection of the outlet indicated that installing a
liner pipe within the existing conduits was not possible. In addition, other structural and riprap
work be required at the inlets and outlets to bring the conduits up to current standards.

Selected Alternative 2, Replace the Existing Outlet Works - The Company has chosen
Alternative 2 which is the full replacement of the outlet works and service spillway. Work
included in Alternative 2 is as follows:

1. Breach the dam embankment and remove existing outlet works.
2. Replace existing outlet with 30-inch diameter concrete pipe bedded on concrete.
Control structures include the intake structure with gate, gate tower with control gate,
and energy dissipation outlet structure.
3. Install toe drain at the dam embankment toe to intercept seepage.
4. Construct service spillway, incorporated into the outlet works, to pass 1 OO-year storm.
5. Place riprap and bedding on the upstream face of the dam in the breach area and at the
energy dissipation structure.

The Total Project cost is estimated to be:
1. Engineering Design
2. Construction
3. Contingency (15%)
TOTAL

$ 30,000
177,000
27,000
$234,000

Schedule - If the loan is approved by the CWCB, design would be completed in March 2007 for
submittal to the SEa for design review. Construction would start in September 2007 and be
completed in December 2007. A 2-inch waterline owned by North Weld Water District will
have to be moved as it interferes with the project construction. A right-of-way permit will be
required for excavation in Weld County Road 74. The Corps of Engineers will be contacted
concerning 404 permitting, but it is anticipated that the proposed work will not require formal
permitting, and will fall under the nationwide permit.

Financial Analvsis

The total estimated cost of the project is $234,000. WLlC qualifies for an agricultural interest
rate. Staff is recommending a maximum loan amount of $210,600 (90% of the estimated
project cost) for 30 years at an interest rate of 2.50%. WLlC will pay the 10% local share
($23,400) of the project cost from existing cash balances and an increase in assessments.

Table 1 is a summary of the financial aspects of the project. A CWCB Loan of $210,600 would
have an annual payment of $10,062 (not including the 10% reserve requirement) at the loan
terms of 2.50% for 30 years. The WLlC will maintain a reserve fund of $10,062 for the loan
from existing Certificates of Deposit (CD's), as discussed below in Creditworthiness.

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