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ÍÌßÌÛ ÑÚ <br /> <br />Ý ÑÔÑÎßÜÑ <br /> <br />úÎÑÎËÜÙÎæÜÉØËúÎÏÊØËÇÜÉÔÎÏûÎÜËÙ   <br /> <br />ùØÍÜËÉÐØÏÉÎ×ïÜÉÈËÜÑë ØÊÎÈËÚØÊ  <br />ïíïí ͸»®³¿² ͬ®»»¬ô α±³ éîï <br />Ü»²ª»®ô ݱ´±®¿¼± èðîðí <br />и±²»æ øíðí÷ èêê ó íììï <br />ÚßÈæ øíðí÷ èêê ó ììéì <br /> <br /> <br />Þ·´´ 第»® Ö®ò <br /> <br />Ù±ª»®²±® <br /> <br /> <br />Ø¿®®·­ Üò ͸»®³¿² <br /> <br />ÜÒÎ Û¨»½«¬·ª» <br />Ü·®»½¬±® <br />TO: Colorado Water Conservation Board Members <br /> <br />Ö»²²·º»® Ôò Ù·³¾»´ <br /> <br />ÝÉÝÞ Ü·®»½¬±® <br />FROM: Tim Feehan, P.E., Project Manager <br /> <br />Ü¿² ӽ߫´·ºº» <br />Mike Serlet, P.E., Chief <br />ÝÉÝÞ Ü»°«¬§ <br />Water Supply Planning and Finance Section <br />Ü·®»½¬±® <br /> <br /> <br /> <br /> <br /> <br /> <br />DATE: November 5, 2008 <br /> <br /> <br /> <br />Agenda Item 25c , November 18 - 19 , 200 8 Board Meeting <br />SUBJECT: <br />Water Supply Pla nni ng and Finance Section Changes to Existing Loans <br /> Bijou Irrigation District Empire Res. East Embankment Dam Repair <br /> <br /> <br />Introduction <br /> <br /> <br />At the January 2008 board meeting, the Colorado Water Conservation Board (CWCB) approved a <br />loan to the Bijou Irrigati on District in the amount of $2,408,850 from the Severance Tax Trust Fund <br />Perpetual Base Account. The $2,408,850 loan was for the r epair of the reservoirs East D am <br />concrete parapet wall, the re grad ing and compaction of the East D am embankment, rip rap sl ope <br />protection throughout , and vegetation removal. <br /> <br />The District is requesting an increase of $2,045,250 to the Distr <br />$2,408,850 . The requested loan incre ase is due to changes in project scope , to include the temporary <br />placement of embankmen t material along the East D am , the replacement of 1,250 feet of concrete <br />parapet wall versus repair, higher equipment, fuel and material costs, and increased design, testing, <br />and inspect ion costs . <br /> <br />Staff Recommendation <br /> <br />Staff recommends that th e Board approve an increase of $ 2,045,250 ($2,025,000 for project <br />costs and $20,250 for the 1% loan service fee) to the Bijou Irrigation District , from the <br />Severance Tax Tr ust Fund Perpetual Base Account, at th eir current interest rate of 2.25 % for 30 <br />year s. $4,454,100($4,410,000 for project costs <br />and $44,100 for the 1% loan service f e e) for the repair <br />embankment. Security for the loan shall be collateral in compliance with CW CB Loan Policy <br />No. 5. <br /> <br />1 <br />