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<br />PROJECT SUMMARY - WINDSOR RES. & CANAL CO. - CONTRACT No. C150151 <br /> <br />SECTION 1 -BORROWER INFORMATION <br /> <br />Name: The Windsor Reservoir & Canal Company <br /> <br />FederallD Number: 84-0355545 <br /> <br />Contact: <br />Address: <br /> <br />Phone Number: <br /> <br />Donn Engel, Secretary Treasurer <br />P. O. Box 206 <br />Eaton, CO 80615 <br />970-454-3377 <br /> <br />Fax Number: <br /> <br />n~J"""" <br />~ <,;\;,'12. <br />'.l!.Lx~ <br />991NOFl J <br /> <br />'<:i,;'\"".~.'-' <br /> <br /> <br />Type of Entity: Colorado nonprofit corporation <br /> <br />SECTION 2 - PROJECT DESCRIPTION <br /> <br />Description of PROJECT: The BORROWER applied for a loan in the amount of $675,000 to <br />recover 620 acre-feet of storage in its Windsor Reservoir No. 8 and No. 8 Annex by <br />excavating and removing up to 1,000,000 cubic yards of sediment (PROJECT) at a total <br />estimated cost of $750,000. <br /> <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on the <br />PROJECT by Duane Smith of Smith Geotechnical of Fort Collins, Colorado, entitled <br />Feasibility Study for Windsor Reservoir No. 8 Storage Recovery Project, dated June 2003, <br />which is incorporated herein by reference, and, based upon the feasibility report, the <br />CWCBdetermined the PROJECT to be technicallyiand financially feasible. <br /> <br />SECTION 3 - CWCB's AUTHORITY <br /> <br />Small Proiect Loan: This loan is made pursuant to the provisions of Sections 37-60-119 <br />and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects for the <br />benefit of the people of the State, provided that the borrower assures repayment of that <br />money. <br /> <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to $5,000,000 <br />from the CWCB's Construction Fund and the State Severance Tax Trust Fund Perpetual <br />Base Account Fund without prior approval from the General Assembly <br /> <br />SECTION 4 - BOARD ApPROVAL <br /> <br />At its July 2003 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BORROWER in an amount up to $675,000 for PROJECT costs <br />plus a 1 % loan service charge in the amount of $6,750 for a total loan amount of <br />$681,750 with an interest rate of 2.5% per annum for a repayment term of 30 years. <br /> <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br /> <br />The Borrower has three outstanding loans with the CWCB: (1) Loan Contract C153597, <br />dated August 29, 1991, in the principal amount of $752,000, (2) Loan Contract <br />C153669, dated March 8, 1994, in the principal amount of $300,000, and (3) Loan <br />Contract C153725, dated October 23, 1996, in the principal amount of $2,658,500. <br /> <br />Appendix 1 to Loan Contract C150151 <br />