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Eackgt•ound The District is located approximately 11 miles east of Estes Park and encompasses approximately 700 acres. The District provides water to 268 taps (266 households and 2 businesses) with a projected total of 350 taps at planned build out, estimated to occur by 2015. The District draws surface water from the Little Thompson River and processes this water for domestic consumption with amicro-filtration plant. The District has been severely impacted by water shortages during the past several years. During the summers of 2000 through 2002 the Little Thompson River, the District's primary source of water, ran dry at times, due to the severe drought conditions. Given the persistent nature of drought over the past few years, the District concluded that the Little Thompson River cannot be considered a reliable and continuous supply of raw water. Based on that conclusion the District hired the services of McLaughlin Water Engineers to prepare a planning document study to evaluate the needs of the District's existing water system. The Study identified the following needs: Construct a raw water storage facility to be utilized when the river cannot meet demands and to secure a reliable water source. Address ongoing distribution line problems. Increase capacity of the District's 36 gpm water treatment rate to 50 gpm needed to accommodate full build-out. Address impacts of the Bull Creek fire on their treatment gallery. Based on the recommendations of the study, the District, by election, was approved to incur debt up to $3,000,000, for the purposes of financing the improvements identified above. To-date, the District has acquired four loans to complete various improvements to its system; a 1998 General Bond with an outstanding balance of $250,000, tvvo loans with Colorado Water Resources and Povoer Development Authority (CWR&PDA) with a combined outstanding balance of $821,998, and a $2,054,189 loan from CWCB. The requested $757,500 loan increase from the CWCB, combined with the existing loans, will place the District's outstanding debt at $3,883,687. The District has the ability to increase its debt service to $3,890,000, based on its 2007 assessed evaluation of $7,788,810. The District is scheduled to hold an election in May of 2008 to increase its debt service to $3,890,000. In June 2004, the District provided a feasibility report to the CWCB, prepared by McLaughlin Water Engineers that assessed the water supply alternatives to meet current and future needs of the District. Table 1 below is a brief summary of the major project elements presented in the original feasibility study, compared with the projected final construction costs. 2 Flood Protection • Water Project Planning and Financing • Stream and Lake Protection Water Supply Protection • Conservation Plaxu~ing