C150206 Contract

• Contract/PO #: CT2015-034
• Contract/PO #: C150206
• Contractor Name: Overland Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Delta
• Loan Projects - Doc Type: Contract Documents

Project Summary - The Overland Ditch and Reservoir Company
Contract No. C150206

SECTION 1 -BORROWER INFORMATION
Name: The Overland Ditch and Reservoir Company
Address: P.O. Box 397, Hotchkiss, CO 81419
Federal Identification No.: 84-0434803
Contact: Robert Church, President
Phone Number: [phone] Fax Number: [phone]
E-mail address:[e-mail]
Type of Entity: a Colorado nonprofit mutual ditch company

Section 2 - Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to
increase the storage capacity of the Overland Reservoir, located in Delta County,
hereinafter referred to as the PROJECT, at an estimated total cost of $1 ,255,555.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility of Restoration, Overland Reservoir," dated May,
2005, compiled by Bruce Marvin, Western Engineers, 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 PerlJetual Base Account: This loan is made pursuant to
the provisions of 99 39-29-109(1 )(a)(I), 37-60-119 and 37-60-120, C.RS., 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.RS., 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 July 18, 2005 meeting, the CWCB approved a loan from the Severance Tax Trust
Fund Perpetual Base Account to the BORROWER in an amount up to $1,141,300 for
PROJECT costs, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of
1 % in accordance with CWCB Policy No. 16, at an interest rate of 2.50% per annum for a
repayment term of 30 years.

SECTION 5 - SCHEDULE OF EXISTING DEBT

Two Colorado Water Conservation Board loans: (1) Loan No. C153307 (1979), original
amount $850,000, at an interest rate of 2% per annum for a term of 40 years; and (2)
C153527 (1988), original amount $850,000, at an interest rate of 5% per annum for a term

Appendix 1 to Loan Contract C150206
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