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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax: (303)866-4474 <br />www.cwcb.state.co. us <br />Bill Ritter, Jr. <br />Governor <br />TO: Colorado Water Conservation Board Members <br />Hams D. Sherman <br />DNR Executive Director <br />FROM: Anna Mauss, PE ~~~i <br />Mike Serlet PE Chief eZ~~ . Jennifer L. Gimbel <br />> > CWCB Director <br />Water Supply Planning & F>nance Section <br />Dan McAuliffe <br />CWCB Deputy Director <br />DATE: November 10, 2008 (Updated November 20, 2008) <br />SUBJECT: Agenda Item 26b, November 18-19, 2008 Board Meeting <br />Water Supply Planning and Finance Section -New Project Loans <br />New Salida Ditch Company -Ditch Pipeline Project <br />Introduction <br />The New Salida Ditch Company (Company) is applying fora $362,000 loan for its Ditch Pipeline <br />Project (Project). The Project consists of enclosing the Browns Canyon portion of the New Salida <br />Ditch in a pipe. The Project cost estimate is $402,000. This loan request is for 90% of the estimated <br />Project cost. See attached Project Data Sheet. <br />Staff Recommendation (Board approved Staff recommendation November 19, 2008) <br />Staff recommends the Board approve a loan not to exceed $365,620 ($362,000 for project costs and <br />$3,620 for the 1% Loan Service Fee) to the New Salida Ditch Company for its Ditch Pipeline <br />Project from the Severance Tax Trust Fund Perpetual Base Account. The loan terms shall be 30 <br />years at the agricultural interest rate of 2.5% per annum. Security for the loan shall be in <br />compliance with CWCB Financial Policy #5. <br />Water Supply Protection • Watershed Protection & Flaod Mitigation • Stream & lake Protection • Water Supply Planning & Finance <br />Water ('onservation & Drought Planning • Intrastate Water Management & Development <br />