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<br />PROJECT SUMMARY -LAKE HENRY- CONTRACT NO. C150098 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: The Lake Henry Reservoir Company <br />Address: P. O. Box 8 <br />Ordway, CO 81063 <br />Allen Ringle, Manager <br />719-267-4411 Fax Number: 719-267-4074 <br />aringle@centurytel.net <br />Colorado nonprofit corporation <br /> <br />Contact: <br />Phone Number: <br />Email <br />Type of Entity: <br /> <br />SECTION 2 - PROJECT DESCRIPTION <br /> <br />A. Description of PROJECT: The BORROWER operates the 9,500 acre-foot Lake Henry <br />Reservoir in Crowley County for the benefit of its 12 shareholders by providing <br />storage of water for a variety of beneficial uses including water for irrigation within <br />a 551-acre service area. The dam needs to be rehabilitated by construction of toe <br />drains and an emergency spillway in accordance with State Engineer safety <br />standards at an estimated total cost of $653,000. <br /> <br />8. Description of Feasibility Study: The C\iVCB assisted in the preparation of a <br />feasibility study report entitled Feasibility Study - Rehabilitation of the Lake Henry <br />Dam on the PROJECT compiled with assistance from URS Corporation Engineers, <br />which is incorporated herein by reference, and has reviewed said report. Based <br />upon the report, the CVVCB determined the PROJECT to be technically and financially <br />feasible. <br /> <br />SECTION 3 - CWCB's AUTHORITY <br /> <br />Construction Fund: This loan is made pursuant to the provisions of 9937-60-119 and <br />37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from <br />the CWCB Construction Fund for the benefit of the people of the state, provided that <br />the borrower assures repayment of that money. <br /> <br />SECTION 4 - BOARD ApPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED) <br /> <br />A. At its November 2001, meeting, the CWCB approved a loan to the BORROWER in an <br />amount up to $490,000, not to exceed 75% of the cost of the PROJECT, at an <br />interest rate of 4.25% per annum for a repayment term of 30 years. <br /> <br />B. Pursuant to HB02-1152, Section 1 (d), the Colorado General Assembly authorized <br />CWCB to loan to the BORROWER an amount up to $490,000 for the PROJECT. <br /> <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br /> <br />No existing debt <br /> <br />Appendix 1 to Loan Contract C150098 <br />