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<br />Project Summary - Platte Valley Irrigation Company - Contract No. <br />C150235 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Platte Valley Irrigation Company <br />Address: 1135 8th Avenue, Suite B, Greeley, CO 80632 <br />Federal Identification No.: 84-0403445 <br />Contact: Donna Coble, Secretary <br />Phone Number: 970-353-1292 <br />E-mail address:southard@inf02000.net <br />Type of Entity: a Colorado nonprofit corporation <br /> <br />Section 2 - Project Description <br />A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br />used for the construction of the Platte Valley Reservoir No. 1 and to add <br />measurement and control devices on the Company's main ditch, located in Weld <br />County, hereinafter referred to as the PROJECT, at an estimated total cost of <br />$2,365,000. <br /> <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />on the PROJECT entitled "Feasibility Study for Platte Valley Reservoir No.1," dated <br />October 2006, compiled by Smith Geotechnical, which is incorporated herein by <br />reference, and, based upon the feasibility report, the CWCB detennined the <br />PROJECT to be technically and financially feasible. <br />SECTION 3 - eWeB's AUTHORITY <br /> <br />Severance Tax Trust Fund"PerIJetual Base Account: This loan is made pursuant to <br />the provisions of 99 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which <br />authorize the CWCB to loan money for water projects from the CWCB Severance Tax <br />Trust Fund Perpetual Base Account for the benefit of the people of the state, provided <br />that the borrower assures repayment of that money. <br /> <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$5,000,000 from the CWCS's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General Assembly <br /> <br />SECTION 4 - BOARD APPROVAL <br /> <br />At its November 13, 2006 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BORROWER in an amount up to $2,365,000 for PROJECT costs, not <br />to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1 % in accordance <br />with CWCB Policy No. 16, at an interest rate of 2.25% per annum for a repayment tenn of <br />20 years. <br /> <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br /> <br />No existing debt. <br /> <br />Appendix 1 to Loan Contract C150235 <br />Page 1 of 3 <br />