C150190 Contract

• Contract/PO #: C150190
• Contractor Name: Beaver Reservoir Company
• Contract Type: Loan
• Water District: 59
• County: Gunnison
• Loan Projects - Doc Type: Contract Documents

Project Summary - Beaver Reservoir Co. - Contract No. C150190
SECTION 1 —BORROWER INFORMATION
Name: Beaver Reservoir Company
Address: P.O. Box 120, Hotchkiss, CO 81419
Federal Identification No.: 84-04877933
Contact: James Briscoe, Secretary/Treasurer
Phone Number: [phone] Fax Number: [phone]
E-mail address: [e-mail]
Type of Entity: a Colorado nonprofit corporation
Section 2 — Project Description
A. Description of PRO�ECT: The BoRROwER applied to the CWCB for a loan to be
used to repair and protect the reservoir liner and install a new outlet valve in
Beaver Reservoir, located in Gunnison County, hereinafter referred to as the
PROJECT at an estimated total cost of $142,800.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PRO�ECT entitled "Beaver Reservoir Feasibility Study," dated 2004, compiled
by Joel A. Jones, Senior Engineer, and James M. Johnson, Principal, Golder
Associates, Inc., which is incorporated herein by reference, and, based upon the
feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3 — CWCB'S AUTHORITY
Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to
the provisions of §§ 39-29-109(1)(a)(l), 37-60-119 and 37-60-120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account 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 State 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 November 17, 2004 meeting, the CWCB approved a loan from the Severance Tax
Trust Fund Perpetual Base Account to the BoRROwER in an amount up to $129,785 for
PROJECT COStS not to exceed 90% of the cost of the PRO�ECT, with a loan origination fee of
1% in accordance with CWCB Policy No. 16, at an interest rate of 2.5% per annum for a
repayment term of 30 years.
SECTION 5- SCHEDULE OF EXISTING DEBT
Borrower has a current loan no. C153705 from the Colorado Water Conservation
Board, dated May 1, 2000, for an original principal amount of $415,000. The Borrower
Appendix 1 to Loan Contract C150190
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