PROJC02292 ‎(2)‎

• Contract/PO #: C150281
• Contractor Name: Water Supply and Storage Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• 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
Harris D. Sherman

FROM: Kirk Russell, PE ~'~ DNR Executive Director
Mike Serlet PE Chief
> > Jennifer L. Gimbel
CWCB Director
Water Supply Planning & Finance Section
Dan McAuliffe
CWCB Deputy Director
DATE: January 20, 2009 (UPDATED JANUARY 28, 2009)
SUBJECT: Agenda Item llb ,January 27-28, 2009 Board Meeting
Water Supply Planning and Finance Section -New Project Loans
Water Supply & Storage Company -Grand River Ditch Project & Kluwer
Reservoir Outlet Project
Introduction
The Water Supply & Storage Company (Company) is applying fora $835,000 loan for the Grand
River Ditch Project (Ditch Project) and the Kluwer Reservoir Outlet Project (Outlet Project). The
total cost estimate for both projects is $1,227,000, which includes design and construction costs.
The repair work is necessary in order to maintain the use of the facilities and deliver water to the
Company shareholders. The loan request is for approximately 90% of the Company's project costs.
See attached Project Data Sheet.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $843,350 ($835,000 for project costs and
$8,350 for the 1 % Loan Service Fee) to The Water Supply & Storage Company for two
rehabilitation projects, the Grand River Ditch Project and the Kluwer Reservoir Outlet Project from
the Construction Fund Account. The loan terms shall be a blended interest rate of 3.70% per annum
for 30 years. Staff will have the option to utilize two separate contracts which in aggregate will not
exceed the approved limit. Security for the loan shall be in compliance with CWCB Financial
Policy #5.
Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • Intrastate Water Management & Development