C150249 Contract

• Contract/PO #: C150249
• Contractor Name: Black Dike Pipeline Company
• Contract Type: Loan
• Water District: 0
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

Project Summary — Black Dike Pipeline Company — Contract No.
C150249
SECTION 1 — BORROWER INFORMATION
Name: Black Dike Pipeline Company
Address: 14575 Road G, Cortez, CO 81321
Federal Identification No.: 26- 0642340
Contact: Penny Welch, Treasurer
Phone Number: 970 - 564 -1508 Fax Number: 970 - 564 -1513
E -mail address: penny @healingleaders.net
Type of Entity: a Colorado nonprofit corporation
Section 2 — Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used to install approximately four miles of new pipeline in the existing ditch
corridor, located in Montezuma County, hereinafter referred to as the PROJECT, at
an estimated total cost of $598,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Black Dike Ditch Pipeline Project," dated April 1, 2007,
compiled by Eric Lindgren, which is incorporated herein by reference, and, based
upon the feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3 — CWCB'S AUTHORITY
Severance Tax Trust Fund Perpetual Base Account. This loan is made pursuant to
the provisions of §§ 39- 29- 109(1)(a)(1), 37 -60 -119 and 37 -60 -120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.
Section 37- 60- 122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly
SECTION 4 - BOARD APPROVAL
At its May 2007 meeting, the CWCB approved a loan from the Severance Tax Trust Fund
Perpetual Base Account to the BORROWER in an amount up to $603,980,000 for PROJECT
costs, with a loan origination fee of 1% in accordance with CWCB Policy No. 16, at an
interest rate of 2.85% per annum for a repayment term of 30 years.
SECTION 5 — SCHEDULE OF EXISTING DEBT
No existing debt.
SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Deed of Trust, in
the form attached as Appendix 5 and incorporated herein, shall be an undivided one
hundred percent (100 %) interest in any rights that the Borrower holds in the Project
Appendix 1 to Loan Contract C150249
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