26b

• Board Meeting Date: 11/19/2008
• Description: CF Section - New Project Loans - New Salida Ditch Company - Ditch Pipeline 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: November 10, 2008
Agenda Item 26b, November 18-19, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
New Salida Ditch Company – Ditch Pipeline Project
Introduction
The New Salida Ditch Company (C ompany) is applying for a $362, 000 loan for its Ditch Pipeline
Project (Project). The Project cons ists of enclosing the Browns Canyon portion of the New Salida
Ditch in a pipe. The Project cost estimate is $402,000. This loan re quest is for 90% of the estimated
Project cost. See attach ed Project Data Sheet.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $365,620 ($362,000 for project costs and
$3,620 for the 1% Loan Service Fee) to the Ne w Salida Ditch Company for its Ditch Pipeline
Project from the Severance Tax Trust Fund Perpet ual Base Account. The loan terms shall be 30
years at the agricultural interest rate of 2.5% per annum. S ecurity for the lo an 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