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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Ritter, Jr. <br />Governor <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Harris D. Sherman <br />DNR Executive Director <br /> <br />FROM: <br /> <br />Anna Mauss, PE ~ <br />Mike Serlet, PE, Chief V <br />Water Supply Planning inance Section <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy Director <br /> <br />DATE: <br /> <br />July 15,2008 (UPDATED July 28, 2008) <br /> <br />SUBJECT: <br /> <br />Agenda Item 16c, July 22-23, 2008 Board Meeting <br />Water Supply Planning and Finance Section - New Project Loans <br />San Luis Valley Water Conservancy District - Water Rights Acquisition <br /> <br />Introduction <br /> <br />The San Luis Valley Water Conservancy District (District) is requesting a loan to acquire water rights <br />in the Pine River Weminuche Pass Ditch, near Creede, Colorado, for the District's Augmentation <br />Program. See attached Project Data Sheet for a location map and a project summary. <br /> <br />Staff Recommendation (Board Approved Staff Recommendation on July 23, 2008) <br /> <br />Staff recommends the Board approve a loan not to exceed $727,200 ($720,000 for project costs and <br />$7,200 for the 1 % Loan Service Fee) to the San Luis Valley Water Conservancy District - Water <br />Activity Enterprise for the Water Rights Acquisition Project from the Severance Tax Trust Fund <br />Perpetual Base Account. The terms ofthe loan shall be a 30-year loan at 3.5% per annum. Security <br />for the loan shall be in compliance with CWCB Financial Policy #5. <br /> <br />Staff further recommends the addition ofthe following condition in the CWCB Loan Contract: <br /> <br />San Luis Valley Water Conservancy District shall have a lease agreement in-place for <br />storage of the water acquired through this loan purchase prior to disbursement of funds from <br />the CWCB. <br /> <br />Water Supply Protection. Watershed Protection & Flood Mitigation. Stream & Lake Protection. Water Supply Planning & Finance <br />Water Conservation & Drought Planning. Intrastate Water Management & Development <br />