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<br />Project Summary - Colorado River WCD - Contract No. C150164 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Colorado River Water Conservation District <br />Address: P. O. Box 1120, Glenwood Springs, CO 81602 <br />Federal Identification No.: 84-6000156 <br />Contact: Dan Birch, Project Development Manager <br />Phone Number: 970-871-1529 <br />E-mail address:dbirch@crwcd.com <br />Type of Entity: The District is a water conservation district formed <br />pursuant to and governed by Article 45, Title 37, C.RS. <br />and located in Garfield County. The District's Colorado <br />River Water Projects Enterprise is a water activity <br />enterprise under Article 45.1, Title 37, C.RS., <br />established by the. District by resolutions adopted on <br />July 16, 1985, October 19, 1999, and October 17, 2000, <br />which resolutions are incorporated herein by reference. <br />The Enterprise was formed and is operated as an <br />enterprise within the meaning of COLO. CONST. Art. X, <br />Section 20. <br />SECTION 2 - PROJECT DESCRIPTION <br />Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used <br />for raising the height of the existing dam on Elkhead Reservoir by 24 feet, <br />hereinafter referred to as the PROJECT, located in Moffat and Routt Counties, at an <br />estimated total cost of $19,500,000. <br />Description of Feasibility Study: The CWCB has reviewed the feasibility study titled <br />"Elkhead ReselVoir Enlargement Feasibility Reporf' which is incorporated herein by <br />reference, and, based upon the feasibility report, the CWCB determined the PROJECT <br />to be technically and financially feasible. <br />SECTION 3 - CWCB's AUTHORITY <br />Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to <br />the provisions of 99 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.RS., which <br />authorize the CWCB to loan money for water projects from the CWCB Severance Tax <br />Trust Fund Perpetual Base Account for the benefit of the people of the state, provided <br />that the borrower assures repayment of that money. <br />SECTION 4 - BOARD ApPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED) <br />At its November 2003 meeting, the CWCB approved a Loan from the Severance Tax <br />Trust Fund Perpetual Base Account to the BORROWER in an amount up to $11,000,000 for <br />PROJECT costs plus $110,000 for the 1 % loan service charge for a total loan amount of <br />$11,110,000, with repayment terms of 3.75% per annum for 14 years. <br />Pursuant to House Bill 2004-1221, Section 2.a, the Colorado General Assembly <br />authorized CWCB to loan to the BORROWER an amount up to $11,110,000 for the <br />PROJECT. <br /> <br />Appendix 1 to Loan Contract C150164 <br />