PROJ01923 ‎(2)‎

• Contract/PO #: C150126
• Contractor Name: Kremmling, Town of
• Contract Type: Loan
• Water District: 50
• County: Grand
• Loan Projects - Doc Type: Contract Documents

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PROJECT SUMMARY - KREMMLlNG - CONTRACT No. C1501;26

SECTION 1 -BORROWER INFORMATION
Name: Town of Kremmling acting by and through its water enterprise
Address: P. O. Box 538, Kremmling, CO 80459-0538
Contact: Sharon Cesar, Town Clerk
FederallD Number: 84-6000683
Phone Number: 970-724-3249 Fax Number: 970-724-9409
E-mail address: [e-mail]
Type of Entity: The Town of Kremmling, Colorado was incorporated in 1890. The
BORROWER, the Town of Kremmling, Colorado's water ent1erprise,
is a water activity enterprise established by the BORROWER by
Resolution 2003-6-1, adopted June 18, 2003, and reaffirmed by
Ordinance 482 adopted July 21, 2004, pursuant to Article 45.1,
Title 37, C.RS., which are incorporated herein by reference. The
Enterprise was formed and is operated as an enterprise within the
meaning of COLO. CONST. Art. X, Section 20.
SECTION 2 - PROJECT DESCRIPTION
Description of PROJECT: The BORROWER applied for a CWeB loan (in the original
amount of $1,000,000, and increased in May 2004 to $1,689,750) for construction of
an alternative water supply system to supplement its existing system, hereinafter
referred to as the PROJECT. The estimated total cost of the PROJECT is $2,447,750
and includes construction of two pump stations. and a pipeline.
Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitles "Feasibility of Constructing a Raw Water Delivery System for
the Town of Kremmling", dated October 2002, compiled with the assistance of Dave
Jones of Applegate Group and Cort Nickel of RTW engineering, which is incorporated
herein by reference, and, based upon the fea~ibility report, the CWCB determined the
PROJECT to be technically and financially feasible.
SECTION 3 - CWCB's AUTHORITY
Small Proiect Loan: This loan is made pursuant to the provisions of SS 37'-60-11.9
and 37-60-120, C.RS., which authorizes the CWCB to loan money for water projects
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 eWCB'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 November 2002, meeting, the CWCS approved a loan to the BORROWER in an
amount up to $1,000,000 at an interest rate of 4.25% per annum for a repayment term
of 30 years, and at its May 2004, meeting, the CWCB approved a loan increase in the
amount of $689,750 for a total loan amount of $1,689,750 at an interest rate of 4.25%
per annum for a repayment term of 30 years.

Appendix 1 to Loan Contract C150126