CA3

• Board Meeting Date: 9/18/2007
• Description: CF Section - Changes to Existing Loans - Larimer and Weld Irrigation Company
• Board Meetings - Doc Type: Memo

ST A TE OF COLORADO

Colorado Water Conservation Board

Department of Natural Resources
1313 Sherman Street, Room 721
Denyer, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us

Bill Ritter Jr.
Goyernor

MEMORANDUM

Rarris Sherman
Executiye Director

TO:

Colorado Water Conservation Board Members

Dan McAulilife
Acting CWCB
Director

FROM:

Tim Feehan, P.E., Project Manager
Mike Serlet, P.E., Chief
Water Supply Planning and Finance Section

DATE:

August 20, 2007

SUBJECT:

Consent Agenda Item No.3, September 18-19,2007 Board Meeting
Water Supply, Planning and Finance - Changes to Existing Loans
Larimer and Weld Irrigation Company

INTRODUCTION

At the May 2005 Board Meeting, the Board authorized staff to present revisions to existing
loans, totaling less then 20% of the original loan, as Consent Agenda Items. The Larimer and Weld
Irrigation Company loan increase presented below represents a 6.9% increase to the Company's original
estimated proj ect cost.

At the September 2004 board meeting, the Colorado Water Conservation Board (CWCB) approved
a loan to the Larimer and Weld Irrigation Company (Company) in the amount of $1,515,000 from the
Severance Tax Tmst Fund Perpetual Base Account. The $1,515,000 loan was for the reconstmction of the
Lake Lee Dam, the Big Windsor Inlet, and the Finley Check Stmcture.

The Company is requesting (see attached letter), an increase of $105,492 to the Company's 2004
authorization of $1,515,000, for the design and constmction of the three stmctures indicated above.
The requested loan increase is due to cost overmns associated with the Big Windsor Inlet and Lake Lee
Dam.

Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conseryation and Drought Planning