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<br />Project Summary - Town of DeBeque - Contract No. C150241 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Town of DeBeque, acting by and through its Irrigation <br />System Enterprise <br />P.O. Box 60, DeBeque, eo 81630 <br />84-6006452 <br />Donald Cramer, Mayor <br />970-283-5475 Fax Number: 970-283-5205 <br />clerk@debeque.org <br />The Borrower is a eolorado municipality acting by and <br />through its Irrigation System Enterprise. <br /> <br />Address: <br />Federal Identification No.: <br />eontact: <br />Phone Number: <br />E-mail address: <br />Type of Entity: <br /> <br />Section 2 - Project Description <br />A. Description of PROJECT: The BORROWER applied to the eWeB for a loan to be <br />used for the Irrigation System Improvements Project, located in Mesa eounty, <br />hereinafter referred to as the PROJECT, at an estimated total cost of $370,000. <br />B. Description of Feasibility Study: The eWCB has reviewed a feasibility study <br />report on the PROJECT compiled by earroll Aamold, which is incorporated herein by <br />reference, and, based upon the feasibility report, the eWCB determined the <br />PROJECT to be technically and financially feasible. <br />SECTION 3 - CWCS's AUTHORITY <br />Severance Tax Trust Fund Peroetual 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 eWeB to loan money for water projects from the eWeB 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) e.R.s., authorizes the eWeB to make loans of up to <br />$5,000,000 from the eWeB's eonstruction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly <br /> <br />SECTION 4 - BOARD ApPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED) <br /> <br />At its January 2007 meeting, the CWCB approved a loan from the Severance Tax Trust <br />Fund Perpetual Base Account to the BORROWER in an amount up to $250,000 for <br />PROJECT costs, not to exceed 70% of the cost of the PROJECT, with a loan origination fee of <br />1 % in accordance with CWCB Policy No. 16, at an interest rate of 3.25% per annum for a <br />repayment term of 30 years. <br /> <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br /> <br />No existing debt. <br /> <br />SECTION 6 - ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br /> <br />Appendix 1 to Loan Contract C150241 <br />Page 1 of 3 <br />