16a

• Board Meeting Date: 7/22/2008
• Description: CF Section - New Project Loans - Loudon Irrigating Canal & Res. Co. - Rist Benton Res. Dam Rehab. Project
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
Bill Ritter, Jr.
Governor
TO: Colorado Water Conservation Board Members
Harris D. Sherman
DNR Executive Director
FROM: Anna Mauss, PE
Jennifer L. Gimbel
Mike Serlet, PE, Chief
CWCB Director
Water Supply Planning & Finance Section
Dan McAuliffe
CWCB Deputy Director
DATE: July 15, 2008
Agenda Item 16a, July 22-23, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
Louden Irrigating Canal and Reservoir Company – Rist Benson Reservoir Dam
Repair Project
Introduction
The Louden Irrigating Canal and Reservoir Comp any (Borrower) has requested a loan to complete the
Rist Benson Reservoir Dam Repair Project (Project). The Project involves re pairing a section of the
dam that has seepage problems. On ce completed, the repair will a llow for full storag e in the Rist
Benson Reservoir (Reservoir). See attached Proj ect Data Sheet for a location map and a project
summary.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $263,610 ($261,000 for project costs and
$2,610 for the 1% Loan Service Fee) to the Louden Irrigating Canal and Reservoir Company for the
Rist Benson Reservoir Dam Repair Project from the Severance Tax Trust Fund Perpetual Base
Account. The terms of the loan sh all be a 30-year loan at 3.5% pe r annum. Security for the loan
shall be in compliance with CWCB Financial Policy #5.
Water Supply Protection • Watershed Protection & Flood Mitigatio n • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • In trastate Water Management & Development