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<br />Project Summary - Orchard City 10 - Contract No. C150169 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Orchard City Irrigation District <br />Address: P. O. Box 81, Eckert, CO 81418 <br />Federal Identification No.: 84-0814726 <br />Contact: Thomas Huerkamp <br />Phone Number: 970-835-3100 Fax Number: 970-835-3100 <br />E-mail address:ocid@tds.net <br />Type of Entity: a Colorado nonprofit corporation <br /> <br />Section 2 - Project Description <br />Description of PROJECT: The BORROWER applied to the CWCB for a loan to <br />rehabilitate the Dry Creek Transfer Ditch and the Circle Ditch headgate, located in <br />Delta County, hereinafter referred to as the PROJECT, at an estimated total cost of <br />$102,457. <br /> <br />Description of Feasibility Study: The CWCS has reviewed a feasibility study report <br />on the PROJECT, and, based upon the feasibility report, the CWCB determined the <br />PROJECT to be technically and financially feasible. <br />SECTION 3 - CWCB's AUTHORITY <br /> <br />Small ProiectLoan: This loan is made pursuant to the provisions of 99 37-60-119 <br />and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects <br />for the benefit of the people of the State, provided that the borrower assures <br />repayment of that money. <br /> <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly <br /> <br />SECTION 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED) <br /> <br />At its March 2004 meeting, the CWCB approved a Small Project Loan from the <br />Severance Tax Trust Fund Perpetual Base Account to the BORROWER for a total loan <br />amount up to $93,122 ($92,200,000 for PROJECT costs and $922 for the 1 % loan service <br />charge), with repayment terms, at the BORROWER'S option, of 2.50% per annum for 30 <br />years, OR 2.25% PER ANNUM FOR 20 YEARS, OR 2.0% PER ANNUM FOR 10 YEARS. <br /> <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br /> <br />No.existing debt <br /> <br />SECTION 6 - ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br />No additional conditions or contract requirements <br /> <br />Appendix 1 to Loan Contract C150169 <br />