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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 />TO: Colorado Water Conservation Board Members <br />FROM: Anna Mauss, PE ~~~~/, <br />Mike Serlet, PE, Chief `"~~%~ <br />Water Supply Planning & Finance Section <br />DATE: November 10, 2008 (Updated November 20, 2008) <br />Bill Ritter, !r <br />Governor <br />Hams D. Sherman <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy Director <br />SUBJECT: Agenda Item 26f, November 18-19, 2008 Board Meeting <br />Water Supply Planning and Finance Section -New Project Loans <br />Boulder White Rock Ditch and Reservoir Company -Panama Reservoir Outlet <br />Introduction <br />The Boulder White Rock Ditch and Reservoir Company (Company) is applying fora $2,406,000 loan <br />to install a pump station as part of the Panama Reservoir Outlet Project (Project). The Project cost <br />estimate is $2,673,000. This loan request is for 90% of the estimated Project cost. See attached Project <br />Data Sheet. <br />Staff Recommendation (Board approved Staff recommendation November 19, 2008) <br />Staff recommends the Board approve a loan not to exceed $2,430,060 ($2,406,000 for project costs <br />and $24,060 for the 1 % Loan Service Fee) to the Boulder White Rock Ditch and Reservoir <br />Company for the Panama Reservoir Outlet Project from the Severance Tax Trust Fund Perpetual <br />Base Account. The loan terms shall be 30 years at a blended interest rate of 3.45% per annum. <br />Security for the loan shall be in compliance with CWCB Financial Policy #5. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Weter Management & Development <br />