C150185 Contract

• Contract/PO #: C150185
• Contractor Name: Mancos Valley Beaver Ditch Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

Project Summary - Mancos Valley Beaver Ditch Co.
Contract No. C150185
SECTION 1 =BORROWER INFORMATION
Name: Mancos Valley Beaver Ditch Company
Address: P. O. Box 308, Mancos, Colorado 81328
Federal Identification No.: 90-0139066
Contact: Oran R. White, President
Phone Number: 970-533-7318
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 installation of pipeline in the existing Mancos Valley Beaver Ditch corridor, located
in Montezuma County, hereinafter referred to as the PRO~ECT, at an estimated total
cost of $536,900. ~
Description of Feasibility Study: The CWCB has reviewed a feasibility study report on
the PRO~ECT entitled "The Mancos Valley Beaver Ditch Pipeline Project," dated May
2004, which is incorporated herein by reference, and, based upon the feasibility report,
the CWCB determined the PRO~ECT to be technically and financially feasible.
SECTION 3 - CWCB'S AUTHORITY
Severance Tax Trusf Fund Perpefua! Base Account: This loan is made pursuant to
the provisions of §§ 39-29-109(1)(a)(I), 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
At its September 2004 meeting, the CWCB approved a Small Project Loan from the
Construction Severance Ta~c Trust Fund Perpetual Base Account to the BoRROwER in an
amount up to $413,000 fOC PROJECT COStS pIL1S $4,130 for the 1% Ioan service charge for a
total loan amount of $417,130, with repayment terms of 2.50% per annum for 30 years.
SECTION 5- SCHEDULE OF EXISTING DEBT
No existing debt.
SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Deed ofi Trust, in
the form attached as Appendix 5 and incorporated herein, shall be an undivided one
hundred percent interest in any rights that the BORROWER holds in th2 PROJECT
consisting of approximately 24,000 feet of pipeline and the associated access
easement rights as more particularly described in the attached Deed of Trust
("Collateral").
Appendix 1 to Loan Contract C150185