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STATE OF COLORADO <br /> <br /> <br />úÎÑÎËÜÙÎæÜÉØËúÎÏÊØËÇÜÉÔÎÏûÎÜËÙ  <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: November 10 , 200 8 <br /> <br />Agenda Item 25a , November 1 8 - 1 9 , 200 8 Board Meeting <br />SUBJECT : <br /> Water Supply Planning and Finance Section Changes to Existing Loans <br /> S outhe astern Colorado Water Conservancy District Arkansas Valley Cond uit <br />Project <br /> <br />Introduction <br /> <br />The Southeastern Colorado Water Conservancy District ( SECWCD ), acting by and through its Water <br />A ctivity Enterprise , was approved for a $60, 6 00,000 loan from the Severance Tax Trust Fund <br />Perpetual Base Account in November of 200 6 and subsequently approved by legislature in S enate Bill <br />07 - 122. The loan provide s financing for the local match for the design and construction of the <br />Arkansas Valley Conduit Project (Conduit). The Conduit is a 138 mile water supply pipeline extending <br />fr om Pueblo Reservoir to the City of Lamar. The SECWCD is requesting a two year time extension <br />(See Attached Letter) on the conditional approval of the CWCB loan. The estimated total cost of the <br />project is $300,000,000. <br />Staff Recommendation <br /> <br /> <br />Staff recommen ds approval of a request for a two year time extension on the conditional loan <br />approval of a $60,600,000 loan ($60,000,000 for project costs and $600,000 for the 1% Loan <br />Service Fee ) , to th e Southeastern Colorado Water Conservancy District, acting by and t hrough its <br />Water Activity Enterprise, from the Severance Tax Trust Fund Perpetual Base Account, to provide the <br />local cost share match for the design and construction of the Arkansas Valley Conduit Project . The <br />recommended loan terms remain unchanged at 30 years at an interest rate of 3.25% per annum . <br />Security for the loan remains unchanged and includes a pledge of Enterprise revenues, including <br />revenues received from the Arkansas Valley Conduit participants through Participant Funding <br />Agreements. <br /> <br />Watershed Protection & Flood Mitigation er Supply Planning & Finance <br /> <br />