PROJ01765

• Contract/PO #: FS0039X
• Contractor Name: Goodhue Ditch and Reservoir Company
• Contract Type: Miscellaneous
• Water District: 0
• Loan Projects - Doc Type: Feasibility Study

Colorado Water Conservation Board
Department of Natural Resources

721 State Centennial Building
1313 Sherman Street
Denver. Colorado 80203
Phone [phone]
FAX [phone]

STATE OF COLORADO

.

MEMORANDUM

Roy Romer
('.rQvemor

(UPDATED February 10, 1995)

James S. Lochhead
Ex~utiveDirector. DNR

TO:

Colorado Water Conservation Board Members

Daries C. Lile, P.E..
Director, CWCB

FROM: John Van Sciver

DATE: January 23, 1995

SUBJECT: Agenda Items 19c., 19d., and 19f. January 25-26, 1995, Board Meeting--
Ratification of final loan terms:

1) Lower Clear Creek Ditch Company and the
Colorado Agricultural Ditch Company, each at 4.6%.

2) Goodhue Ditch and Reservoir Company, at 4.7%.

3) Castle Pines North Metro District, at 5%

1) Lower Clear Creek Ditch Co. and the Colorado Agricultural Ditch Co.

These two Construction Fund Loans were approved by the Board in November, in amount of
$60,000 each. The purpose is the rehabilitation of the Diversion Dam common to both
comparnes.

ACTION TAKEN BY THE CWCB NOVEMBER 4. 1994:

The CWCB approved the staff recommendation, with one revision. The Board approved an
interest rate which reflects a weighted average of the Agricultural rate of 4.0% and the
Municipal rate at 5.5%. That rate is 4.6%, based on the following calculation performed by
staff on 11/7/94:

Municipal Shares
Thornton (MHI $34,146) owns 43 % of the shares of the Lower Clear Creek Ditch Co., and
36% of the Shares of the Colorado Agricultural Ditch Co., for a total of 39.5% of the total
shares of both companies. Thornton's MHI exceeds 110% of the State MHI of S30, 140, so the
interest rate for the Municipal shares would be 5.5 % .