PROJC02504

• Contract/PO #: C150135
• Contractor Name: Silt Water Conservancy District
• Contract Type: Loan
• Water District: 0
• County: Garfield
• Bill Number: MC3
• Loan Projects - Doc Type: Approval Letter

Action: A motion was made by Geoff Blakeslee and seconded by Barbara Biggs to
approve staff recommendation that the Board approve an increase of $485,103
($480,300 tor project costs and $4,803 for a 1% t,oan Service Fee) to the District
from the Construction Fund Account at its current interest rate of 2.5% for 30
years. The District's total amended loan amount will be $1,515,000 ($1,500,000
for project costs and $15,000 for a l% I.oan Service Fee) for the rehabilitation of
the District's system infrastructure. Security for the loan shall be collateral in
compliance with CWCB Loan Policy No. 5. Harris Sherman was not available
for this motion. The motion was approved unanimously (8-0).
e. Water Supply Planning and Finance Section - Changes to Existing Loans - Silt
Water Conservancy District - De-authorization of Pump Plant Transformer Pro}ect
Tape 2, Track 1 03:20:19 - 03:21:41
Action: A motion was made by Carl Trick and seconded by Eric Wilkinson to approve
staff recommendation that the Board approve the de-authorization of the Silt
Water Conservancy District - Pump Plant Transformer Project Loan, C150135, in
the amount of $490,860 (previously approved March 26, 2003). Harris Sherman
was not available for this motion. The motion was approved unanimously (8-0).
26. Water Supply Planning and Finance Section - Construction Fund and Severance Tax Trust
Fund Perpetual Base Account - New Loans
a. Center of Colorado Water Conservancy District - James Tingle Reservoir
Tape 2, Track 1 03:21:42 - 03:36:37
Action: A motion was made by Eric Wilkinson and seconded by Keith Catlin to approve
staff recommendation that the Board approve a loan not to exceed $454,500
($450,000 for project costs and $4,500 for the 1% Loan Service Fee) to the Center
of Colorado Water Conservancy District for the construction of the James Tingle
Reservoir from the Severance Tax Trust Fund Perpetual Base Account. The loan
terms shall be 10 years at an interest rate of 3.5% per annum. This rate is reduced
by 0.5% from the current middle income municipal, 30 yeaz, 4.0% interest rate.
Security for the loan shall be in compliance with CWCB Financial Policy No. 5.
Harris Sherman was not available for this motion. The motion was approved
unanimously (8-0).
b. New Salida Ditch Company - Ditch Pipeline Project
Tape 2, Track 1 03:36:38 - 03:42:40
Action A motion was made by Geoff E3takeslee and seconded by Bruce Whitehead to
approve stat~ recommendatiun that the Bc~ard approve a loan not to exceed
$365,620 ($362,000 for project costs and $3,620 for the l% i,oan Service Fee) to
the New Salida Ditch Company for its Ditch Pipeline Project frc~m the Severance
"I`ax "frust Fund Perpetual Base Account. The loan terms shall be 30 years at the
agricultural interest rate of 2.5% per annum. Security for the loan shall be in
compliance with CWCB ~inancial Policy No. 5. Harris Sherman was not
available for this motion. "I'he motion was approved unanimously (8-0).
c_ Weldon Valley Ditch Company Cottom~uud [)raw Flume Pr~jcct
I~ape 2, "I~rack 1 03:42:41 - i)3:46:55
Action: A motion was made by Car1 "Crick and seconded by Eric Witkins~n to appcove
staff recommendation that the Board approve a loan not to exceed $136,350