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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natura' Resources <br />1313 Sherman Street, Room 72 1 <br />Denver, Colorado 80203 <br />Phone: (303) 866-344 1 <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 />_J&.?-~ <br />Kirk Russell, PE 'r / /' <br />Mike Serlet, PE, Chief U <br />Water Supply Planning & Fi ance Section <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy Director <br /> <br />DATE: July 15,2008 (Revised July 25, 2008) <br /> <br />SUBJECT: Agenda Item 16b, July 22-23, 2008 Board Meeting <br />Water Supply Planning and Finance Section - New Project Loans <br />Headgate 135 Lateral Inc. - Headgate 135 Pipeline Project <br /> <br />Introduction <br /> <br />The Headgate 135 Lateral Inc. (Corporation) has requested a loan from the CWCB to install <br />approximately one- mile of new pipeline in the existing ditch corridor for the Headgate 135 Pipeline <br />Project (project). The Project will increase ditch efficiency and reduce salinity impacts in the Colorado <br />River. The total Project cost, including engineering and construction, is estimated at $260,000. The <br />Corporation is eligible to receive funding assistance from NRCS and will receive funding assistance <br />from other project participants. The remaining project cost will become a 30-year CWCB loan. See <br />attached Project Data Sheet. <br /> <br />Staff Recommendation (Board Approved Staff Decision on July 23, 2008) <br /> <br />Staff recommends the Board approve a loan, not to exceed $262,600 ($260,000 for project costs and <br />$2,600 for the 1 % Loan Service Fee) for engineering and construction costs, to the Headgate 135 <br />Lateral Inc. from the Severance Tax Trust Fund Perpetual Base Account as it relates to the Headgate <br />135 Pipeline Proj ect. Following construction, the staff further recommends the loan be amended to an <br />amount not to exceed $136,600 ($134,000 for the remaining balance of the Project and $2,600 for the <br />Loan Service Fee) with terms based on the current low-income municipal rate of30 years at 3.50% per <br />annum. Security for the loan will be collateral in compliance with CWCB Financial Policy No.5. <br /> <br />Staff further recommends that execution of the CWCB loan contract be conditioned upon having an <br />executed USDA Conservation Program Contract. <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 />