26c

• Board Meeting Date: 11/19/2008
• Description: CF Section - New Project Loans - Weldon Valley Ditch Company - Cottonwood Draw Flume
• 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 26c, November 18-19, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
Weldon Valley Ditch Company – Cottonwood Draw Flume
Introduction
The Weldon Valley Ditch Company (Company) is applying for a $135,000 loan to rehabilitate its
Cottonwood Draw Flume (Project ). The 43 year old flume is located along Weldon Ditch,
approximately three miles east of Jackson Lake. Th e metal channel and wooden structure that support
the flume are deteriorating and need to be improved in order to assu re delivery of water to Company
shareholders. The Project cost estimate is $150,0 00. This loan request 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 $136,350 ($135,000 for project costs and
$1,350 for the 1% Loan Service Fee) to the Weldon Valley Ditch Company for the improvements
to the Cottonwood Draw Flume from the Severa nce Tax Trust Fund Perpetual Base Account. The
loan terms shall be 30 years at a bl ended interest rate of 2.6% per a nnum. Security for the loan 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