LPPD000447

• Contract/PO #: C150170
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

Project Summary — NPIC — Contract No. C150170
SECTION 1 -BORROWER INFORMATION
Name: The North Poudre Irrigation Company
Address: 3229 Cleveland Avenue, Wellington, Colorado 80539
Federal Identification No.: 84-0281680
Contact: Steve Smith, Operations Manager
Phone Number: 970-568-3612 Fax Number: 970-221-4659
E-mail address: [e-mail]
Type of Entity: a Colorado nonprofit corporation
SECTION 2 - PROJECT DESCRIPTION
Description of PRO�ECT: The BoRROwER applied to the CWCB for a loan to be used
for the rehabilitation of Reservoir #1 (Miner's Lake) dam and removal of silt to reclaim
decreed reservoir capacity, located in Larimer County, hereinafter referred to as the
PROJECT at an estimated total cost of $760,000.
Description of Feasibility Study: The CWCB has reviewed a feasibility study report on
the PRO�ECr entitled "Feasibility of Rehabilitation of North Poudre Reservoir No. 1
(Miner's Lake)," dated January 2004, compiled by Ronald Slosson, P.E., which is
incorporated herein by re#erence, and, based upon the feasibility report, the CWCB
determined the PRO�ECT to be technically and financially feasible.
SECTION 3 - CWCB'S AUTHORITY
Small Proiect Loan: This loan is made pursuant to the provisions of §§ 37-60-119 and
37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects 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 Stafe Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly
SECTION 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED�
At its March 2004 meeting, the CWCB approved a Small Project Loan from the Severance
Tax Trust Fund Perpetual Base Account to the BoRROwER in an amount up to $608,000
for PRO�ECT costs plus $6,080 for the 1% loan service charge for a total loan amount of
$614,080, with repayment terms of 3.25% per annum for 20 years.
SECTION 5- SCHEDULE OF EXISTING DEBT .
The BoRROwER has 7 loans in repayment with the CWCB dating from 1982 to 1989
and has made all scheduled payments on each of these loans. The BoRROwER has no
other outstanding loans at this time.
SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Deed of Trust, in
Appendix 1 to Loan Contract C150170