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PROJECT SUMMARY— SOUTH.SIDE RESERVOIR COMPANY— CONTRACT NO C150130 <br />SECTION 1 —BORROWER INFORMATION <br />Name: <br />Contact: <br />Address: <br />Phone Number: <br />Type of Entity: <br />South Side Reservoir Company <br />John Whiteside, President <br />1612 W 1 St Street <br />Loveland CO 80537 <br />970-667-2636 Fax Number: 970-593-0032 <br />Colorado nonprofit corporation <br />Section 2 — Project Description <br />Description of PRO�ECT The BoR�owER operates the South Side Reservoir in Larimer <br />County for delivery of irrigation water within a 1,600-acre service area. The BORROWER <br />applied for a loan in the amount of $360,000 to finance up to 90% of the cost of rehabilitation <br />of the outlet and spillway on the dam (PROJECT) at a total estimated total cost of <br />$400,000. <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PRO�ECT by Gauthiere Engineering, Inc. entitled Feasibility Study for South Side <br />Dam Outlet Works and Spillway, dated January 2003, which is incorporated herein by <br />reference, and; based upon the feasibility report, the CWCB determined the PRO,iECT <br />to be technically and financially feasible. <br />SECTION 3 — CWCB'S AUTHORITY <br />Sma/l Proiect Loan: This loan is made pursuant to the provisions of Sections <br />37-60-119 .and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water <br />projects for the benefit of the people of the State, provided that the borrower assures <br />repayment of that money. <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$1,000,000 from the CWCB's Construction �Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General Assembly <br />SECTION 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED� <br />A. At its January 2003 meeting, the CWCB approved a Small Project Loan to the <br />BoRROwER in an amount up to $360,000 at an interest rate of 3.1 % per annum for a <br />repayment term of 30 years or at an interest rate of 2.9% for a repayment term of 20 <br />years, at the borrower's option, with a loan service fee of 1% in accordance with <br />CWCB Policy No. 16. The interest rate for this loan is a blended rate based on 74% <br />agricultura( ownership of the shares (2.75%) and 26% municipal (average income) <br />ownership (4.25%). <br />B. Section 37-60-�22(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$1,000,000. from the CWCB's Construction Fund and the State Severance Tax <br />Trust Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly <br />Appendix 1 to Loan Contract C150130 <br />