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C150117 Contract
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C150117 Contract
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Last modified
3/11/2011 3:06:36 PM
Creation date
3/26/2007 10:13:52 PM
Metadata
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Loan Projects
Contract/PO #
C150117
Contractor Name
Central Colorado Water Conservancy District
Contract Type
Loan
Water District
0
County
Weld
Bill Number
SB 03-110
Loan Projects - Doc Type
Contract Documents
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<br />Project Summary - Central Colorado WCD - Contract 150117 <br /> <br />SECTION 1 -BORROWER INFORMATION <br /> <br />Name: Ground Water Management Subdistrict of the Central <br />Colorado Water Conservancy District <br /> <br />Address: 3209 We'st 28th Street <br />Greeley, CO 80634 <br /> <br />Contact: Thomas V. Cech, Executive Director <br /> <br />Email: Tcech@juno.com <br /> <br />Phone Number: 303-825-0474 Fax Number: 303-330-4546 <br /> <br />Type of Entity: Central Colorado Water Conservancy District was <br />authorized under the Water Conservancy Act of 1937: ~he <br />BORROWER (Ground Water Management Subdistrict) was <br />formed on April 23, 1973, to provide an augmentation <br />program for well owners in the area. The BORROWER held <br />an election on November 5, 2002, whereby voters approved <br />increasing the BORROWER'S debt by up to $20,000,000 (with <br />a maximum repayment cost of $39,563,800) to be used for . <br />the purpose of purchasing senior water rights and. <br />constructing gravel pit storage and water recharge facilities, <br />as shown on the BORROWER'S Official Ballot and Official <br />Election Results, which are incorporated herein by <br />reference. <br /> <br />SECTION 2 - PROJECT DeSCRIPTION <br /> <br />Description of PROJECT: The BORROWER has operated an augmentation plan in Adams, Weld <br />and Morgan counties since 1973, and covers an annual depletion of 22,260 acre-feet. The <br />2001 Colorado Supreme Court decision concerning Empire Lodge (Case 00-SA-211) now <br />makes it necessary for the BORROWER to acquire additional senior water rights and build more <br />storage and water recharge facilities to augment out-of-priority diversion. The BORROWER was <br />authorized under the Water Conservancy Act of 1937 and has the power to acquire water <br />rights, construct and operate facilities, levy taxes, and issue debt subject to the provisions of <br />TABOR. The BORROWER applied for a $15,000,000 loan to purchase senior water rights and <br />construct gravel pit storage and water recharge facilities to provide increased augmentation <br />water supplies for its members (PROJECT). The estimated total cost of the PROJECT is <br />$22,000,000. <br /> <br />Description of Feasibility Study: The CWCBhas reviewed a feasibility study report on <br />the PROJECT entitled "FeasibilityStudy for Acquisition of Water Rights and Water Storage" <br />dated July 2002, compiled by the Ground Water Management Subdistrict of the Central <br />Colorado Water Conservancy District, which is incorporated herein by reference, and, <br />based upon the feasibility report, the CWCB determined the PROJECT to be technically <br />and financially feasible. <br /> <br />Appendix 1 to Loan Contract C150117 <br />
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