PROJC02180

• Contract/PO #: C150276
• Contractor Name: Center of Colorado Water Conservancy District
• Contract Type: Loan
• Water District: 0
• County: Park
• Loan Projects - Doc Type: Approval Letter

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
Hams D. Sherman

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Ki DNR Executive Director
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FROM:
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~ Jennifer L. Gimbel
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Mike Serlet PE Chief
> > CWCB Director
Water Supply Planning & Finance Section
Dan McAuliffe
CWCB Deputy Director
DATE: November 10, 2008 (UPDATED NOVEMBER 20, 2008)
SUBJECT: Agenda Item 26a, November 18-19, 2008 Board Meeting
Water Supply Planning and Finance Section -New Project Loans
Center of Colorado Water Conservancy District -James Tingle Reservoir
Introduction
The Center of Colorado Water Conservancy District (District) is applying fora $450,000 loan as its
cost participation in the construction of the James Tingle Reservoir (Project). The District has
partnered with the Centennial Water & Sanitation District (Centennial) to construct the 400 acre-foot
Reservoir. The total Project cost estimate is $3,565,000, and the District is responsible for 1/7th of the
$509,000 design and construction cost. The construction of the Reservoir is necessary in order to
maintain historical return flows to Michigan Creek as decreed for augmentation. This loan request is
for approximately 90% of the District's obligation. See attached Project Data Sheet.
Staff Recommendation (Board Approved on November 20, 2008)
Staff recommends the Board approve a loan not to exceed $454,500 ($450,000 for project costs and
$4,500 for the 1% Loan Service Fee) to the Center of Colorado Water Conservancy District for the
construction of the James Tingle Reservoir from the Severance Tax Trust Fund Perpetual Base
Account. The loan terms shall be 10 years at an interest rate of 3.5% per annum. This rate is
reduced by 0.5% from the current middle income municipal, 30 year, 4.0% interest rate. Security
for the loan shall be in compliance with CWCB Financial Policy #5.
Background
The District recently completed the adjudication of a "blanket" plan for augmentation in
conjunction with the Upper South Platte WCD. The plan service area includes all of Park County
and portions of Jefferson, Douglas, Teller, and Clear Creek counties. The District will use the
Randall Ditch and the Sessions Ditch, which were adjudicated as a change from irrigation to
Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • Intrastate Water Management & Development