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Project Summary -Orchard Mesa Irrigation District <br />Contract No. C150222 <br />SECTION 1 -BORROWER INFOR <br />Name: <br />Address: <br />Federal Identification No.: <br />Contact: <br />Phone Number: <br />MATION <br />Orchard Mesa Irrigation District <br />668 38 Road, Palisade, CO 81526 <br />84-0790376 <br />Rita Crumpton, Manager <br />(970) 464-7885 Fax Number: (970) 464-5928 <br />E-mail address: ritac@acsol.net <br />Type of Entity: The District is an irrigation district governed by the <br />Irrigation District Law of 1921, C.R.S. § 37-42-101 et seq. <br />and located in Mesa County. <br />Section 2 -Project Description <br />A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br />used for the construction of the replacement of the Stokes Gulch Siphon on the <br />District's Power Canal system, located in Mesa County, hereinafter referred to as <br />the PROJECT, at an estimated total cost of $600,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br />report on the PROJECT compiled by Water Management Consultants, which is <br />incorporated herein by reference, and, based upon the feasibility report, the <br />CWCB determined the PROJECT to be technically and financially feasible. <br />SECTION 3 - CWCB'S AUTHORITY <br />Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to <br />the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which <br />authorize the CWCB to loan money for water projects from the CWCB Severance Tax <br />Trust Fund Perpetual Base Account for the benefit of the people of the state, provided <br />that the borrower assures repayment of that money. <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly <br />SECTION 4 -BOARD APPROVAL <br />At its March 21, 2006 meeting, the CWCB approved a loan from the Severance Tax <br />Trust Fund Perpetual Base Account to the BORROWER in an amount up to $545,400 for <br />PROJECT COStS, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of <br />1 % in accordance with CWCB Policy No. 16, at an interest rate of 2.50% per annum for a <br />repayment term of 30 years. <br />Appendix 1 to Loan Contract C150222 <br />Page 1 of 3 <br />