25d

• Board Meeting Date: 11/19/2008
• Description: CF Section - Changes to Existing Loans - Silt Water Conservancy Dist. - Rehabilitation of System Infrastructure
• Board Meetings - Doc Type: Memo

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TO: Colorado Water Conservation Board Members
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FROM: Tim Feehan, P.E., Project Manager
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Mike Serlet, P.E., Chief
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Water Supply Planning and Finance Section

DATE: November 5, 2008

Agenda Item 25d , November 18 - 19 , 200 8 Board Meeting
SUBJECT:
Water Supply Pla nning and Finance Section Changes to Existing Loans
Silt Water Conservancy Dist. Rehabilitation of System Infrastructure

Introduction

At the July 2003 board meeting, the Colorado Water Conservation Board (CWCB) approved a loan
to the Silt Water Co nservancy District (District ) in the amount of $1,029,897 from the Con struction
Fund. The loan was for the replace ment of the Grass Valley Siphon; seepage control at Harve y
Gap Reservoir, repair of the stilling basin at Rifle Gap Re servoir; and the repla ce ment of the pumps
and motors at .

The District is requesting an increase of $ 485,103 to the Distr 2003 authorization of $1,029,897 .
The requested loan incre ase is due to the increased cost for the replacement of the Gr ass Valley
Siphon.

Staff Recommendation

Staff recommends that the Board approve an increase of $ 485,103 ($480,300 for project costs
and $4,803 for a 1% Loan Service Fee) to the District from the Construction Fun d Account at its
current interest rate of 2 .5 % for 30 years.
$1,515,000 ($1,500 , 000 for project costs and $15,000 for a 1% Loan Service Fee) for the
. Security for the loan shall be collateral in
compliance with CWCB Loan Policy No. 5.

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