Laserfiche WebLink
<br />Project Summary - LAWMA - Contract No. C150258 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Lower Arkansas Water Management Association <br />Address: P. O. Box 1161 <br />310 South 6th Street <br />Lamar, CO 81052 <br />Federal Identification No.: 84-0637532 <br />Contact: Don Higbee, Manager <br /> <br />Phone Number: 719-336-9696 Fax Number: 719-336-2422 <br /> <br />E-mail address:lawma@cminet.net <br /> <br />Type of Entity: Colorado nonprofit corporation <br /> <br />Section 2 - Project Description <br />Description of PROJECT: The BORROWER applied to the CWCB for a loan for purchase <br />of the remaining one-half of the Keesee Ditch's water rights, located in Bent and <br />Prowers Counties, hereinafter referred to as the PROJECT, at an estimated total cost <br />of $3,650,000 for use as replacement water source to offset depletions from well <br />pumping. <br /> <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PROJECT entitled "Feasibility Study for Acquisition of the Remaining One-Half of the <br />Keesee Water Rights" dated January 1, 2008, compiled by Helton & Williamsen, P.C., <br />Consulting Engineers, and a report by Kevin McCarty of McCarty Land & Water <br />Valuation, Inc., entitled "Appraisal of Keesee Ditch Water Rights," dated January 18, <br />2008, which are incorporated herein by reference, and, based upon those reports, the <br />CWCB determined the PROJECT to be technically and financially feasible. <br />SECTION 3 - CWCS's AUTHORITY <br /> <br />Construction Fund: This loan is made pursuant to the provisions of 9937-60-119 and <br />37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from <br />the CWCB Construction Fund for the benefit of the people of the state, provided that <br />the borrower assures repayment of that money. <br /> <br />Section 37-60-122(1 )(b) C.R.S., authorizes the CWCB to make loans of up to <br />$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly. <br /> <br />SECTION 4 - BOARD ApPROVAL <br /> <br />At its January 22, 2008 meeting, the CWCB approved a loan to the BORROWER in an <br />amount up to $2,494,700 including $2,470,000 for PROJECT costs and $24,700 for the <br />CWCS's 1 % loan service charge at an interest rate of 2.30% per annum for a repayment <br />term of 30 years. <br /> <br />Appendix 1 to Loan Contract C150258 <br />Page 1 of 3 <br />