C150228 Contract

• Contract/PO #: C150228
• Contractor Name: Riverside Irrigation District
• Contract Type: Loan
• Water District: 0
• County: Morgan
• County: Weld
• Loan Projects - Doc Type: Contract Documents

Project Summary - Riverside Irrigation District
Contract No. C150228

SECTION 1 -BORROWER INFORMATION
Name: Riverside Irrigation District
Address: 221 E. Kiowa, Fort Morgan, CO 80701
Federal Identification No.: 84-0840086
Contact: Don Chapman, Superintendent
Phone Number: [phone] Fax Number: [phone]
E-mail address:[e-mail]
Type of Entity: The Riverside Irrigation District is an irrigation district
formed pursuant to and governed by Article 41, Title 37,
C.R.S. and located in Morgan and Weld Counties.
Section 2 - Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used to provide permanent financing for the acquisition of 46 Private Rights in
the Riverside Reservoir and Land Company, hereinafter referred to as the
PROJECT, at an estimated total cost of $1 ,638,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study
report on the PROJECT compiled by Brent Nation, P.E., which is incorporated herein
by reference, and, based upon the feasibility report, the CWCB determined the
PROJECT to be technically and financially feasible.
SECTION 3 - CWCB's AUTHORITY

Severance Tax Trust Fund Peroetual Base Account: This loan is made pursuant to
the provisions of 99 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.

Section 37-60-122(1 )(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Assembly

SECTION 4 - BOARD ApPROVAL

At its May 16, 2006 meeting, the CWCB approved a loan from the CWCB Severance
Tax Trust Fund Perpetual Base Account to the BORROWER in an amount up to
$1,464,500 for PROJECT costs, not to exceed 90% of the cost of the PROJECT, with a loan
origination fee of 1 % in accordance with eWCB Policy No. 16, at an interest rate of 2.5%
per annum for a repayment term of 30 years.

SECTION 5 - SCHEDULE OF EXISTING DEBT

Bank of Colorado; principal amount $1,387,625; matures February 8, 2007. The

Appendix 1 to Loan Contract C150228
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