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STATE OF COLORADO <br /> <br /> <br />úÎÑÎËÜÙÎæÜÉØË úÎÏÊØËÇÜÉÔÎÏûÎÜËÙ  <br /> <br />ùØÍÜËÉÐØÏÉÎ×ïÜÉÈËÜÑëØÊÎÈËÚØÊ  <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 /> <br />Bill Ritter, Jr. <br /> <br />Governor <br />TO: Colorado Water Conservation Board Members <br /> <br />Harris D. Sherman <br /> <br />DNR Executive Director <br />FROM: Kirk Russell , PE <br /> <br />Jennifer L. Gimbel <br /> Mike Serlet , PE, Chief <br />CWCB Director <br /> Water Supply Planning & Finance Section <br /> <br />Dan McAuliffe <br /> <br />CWCB Deputy Director <br /> <br />DATE: July 15 , 200 8 <br /> <br />Agenda Item 16b , July 22 - 23 , 200 8 Board Meeting <br />SUBJECT : <br /> Water Supply Planning and Finance Section New Project Loans <br /> <br /> Headgate 135 Lateral Inc. Headgate 135 Pipeline Project <br /> <br />Intr oduction <br /> <br />The Headgate 135 La teral Inc . (Corporation) has requested a loan from the C WC B 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 eff iciency and reduce salinity impacts in the Colorado <br />River. The total Project cost, including engineering and construction, is estimated at $2 6 0,000. The <br />Corpo ration is eligible to receive funding assistance fr om NRCS and will receive funding assistance <br />fro m other project participants . The remaining project cost will become a 30 - year CWCB loan. See <br />attached Project Data Sheet. <br /> <br />Staff Recommendation <br /> <br />Staff recommends the Board approve a loan, not to exceed $ 26 2, 6 00 ($2 60,000 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 Project. Following construction, t he staff further recommends the loan be amended to an <br />amount not to exceed $1 3 6,600 ($ 1 3 4,000 for the remaining balance of the Project and $2, 600 for the <br />Loan Service Fee) wit h terms based on the current low - income municipal rate o f 30 years at 3 .50% per <br />annum. Security for the loan will be collateral in compliance with CWCB Financial Policy No. 5. <br />Watershed Protection & Flood Mitigation er Supply Planning & Finance <br /> <br />