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Project Summary - Republican River Water Conservation District - <br />Contract No. C150275 <br />SECTION 1 -BORROWER INFORMATION <br />Name: Republican River Water Conservation District <br />Address: 410 Main Street, Suite 8, Wray, CO 80752 <br />Contact: Stan Murphy, General Manager <br />Phone Number: (970) 332-3552 <br />E-mail address: rrwcd@centurytel.net <br />Type of Entity: a Colorado Water Conservation District, acting by and <br />through its Water Activity Enterprise <br />Section 2 - Project Description <br />A. Description of PRO~ECT: The BoRROwER applied to the CWCB for a loan to be <br />used for the lease of water rights in the drainage basin of the North Fork of the <br />Republican River, hereinafter referred to as the PRO~ECT, at an estimated total <br />cost of $5,000,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br />report on the PRO~ECT titled "Loan Feasibility Study for North Fork Lease", dated <br />October 2008," compiled by James E Slattery, P.E. and Dennis Montgomery, Esq., <br />which is incorporated herein by reference, and, based upon the feasibility report, <br />the CWCB determined the PRO~ECr 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 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION <br />At its November 2008 meeting, the CWCB approved a loan from the Severance Tax Trust <br />Fund Perpetual Base Account to the BORROWER Ifl an amount up to $4,500,000 for <br />PRO~ECr costs, not to exceed 90% of the cost of the PRO~ECT, with a loan origination fee of <br />1% in accordance with CWCB Policy No. 16, at an interest rate of 2.25% per annum for a <br />repayment term of 20 years. <br />SECTION 5- SCHEDULE OF EXISTING DEBT <br />$2.8 million loan from Farm Credit, secured by certificates of deposit, at 6.14% per <br />annum and ending January 2011. <br />$60,600,000 from the CWCB for the Compact Compliance Pipeline Project, approved <br />Appendix 1 to Loan Contract C150275 <br />Page 1 of 2 <br />