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<br />PROJECT SUMMARY -CENTRAL COLORADO WCD - CONTRACT No. C150160 <br /> <br />SECTION 1 -BORROWER INFORMATION <br /> <br />Borrower Ground Water Management Subdistrict of the Central <br />Colorado Water Conservancy District <br /> <br />3209 West 28th Street, Greeley, CO 80634 <br /> <br />Thomas V. Cech, Executive Director <br /> <br />T cech@juno.com <br /> <br />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. The <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 />and increasing taxes up to $1,620,000 annually for <br />repayment of the debt as shown on the BORROWER'S Official <br />Ballot and Official Election Results, which are incorporated <br />herein by reference. <br /> <br />SECTION 2 - PROJECT DESCRIPTION <br /> <br />Description of PROJECT: The BORROWER has operated an augmentation plan in <br />Adams, Weld and Morgan counties since 1973, and covers an annual depletion of <br />22,260 acre-feet. The 2001 Colorado Supreme Court decision concerning Empire <br />Lodge (Case 00-SA-211) now makes it necessary for the BORROWER to acquire <br />additional senior water rights and build more storage and water recharge facilities to <br />augment out-of-priority diversion. The BORROWER was authorized under the Water <br />Conservancy Act of 1937 and has the power to acquire water rights, construct and <br />operate facilities, levy taxes, and issue debt subject to the provisions of TABOR. The <br />BORROWER applied for a $5,000,000 loan to purchase senior water rights and <br />construct gravel pit storage and water recharge facilities to provide increased <br />augmentation water supplies for its members (PROJECT). The estimated total cost of <br />the PROJECT is $22,850,000. <br /> <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PROJECT entitled "Feasibility Study for Acquisition of Water Rights and Water <br />Storage", 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 /> <br />Address: <br />Contact: <br />Email: <br />Phone Number: <br /> <br />Appendix 1 to Loan Contract C150160 <br />