C150288 Contract

• Contract/PO #: C150288
• Contractor Name: Deuel and Snyder Improvement Company
• Contract Type: Loan
• Water District: 0
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

Project Summary — The Deuel and Snyder Improvement Company —
Contract No. C150288
SECTION 1 — BORROWER INFORMATION
Name: The Deuel and Snyder Improvement Company
Address: P.O. Box 89
Contact: Scott Kembel
Phone Number: 970 - 867 -2883 Fax Number: 970 - 867 -2884
E -mail address: jekembel @yahoo.com
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 for the construction of the River Sand Gate Structure Project, located in
Morgan County, hereinafter referred to as the PROJECT, at an estimated total cost
of $90,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility of the Rehabilitation of the Deuel and Snyder
Improvement Company River Sand Gate Structure," dated February 2009, compiled
by Brent Nation, P.E., 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.
Small Pro'ect Loan: This loan is made pursuant to the provisions of §§ 37 -60 -119 and
37 -60 -120, C.R.S., which authorizes the CWCB to loan money for water projects 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 March 2009 meeting, the CWCB approved a Small Project Loan from the
Construction Fund to the BORROWER in an amount up to $90,000 for PROJECT costs, not to
exceed 90% of the cost of the PROJECT, with a loan origination fee of 1 % in accordance with
CWCB Policy No. 16, at an interest rate of 2.50% per annum for a repayment term of 30
years.
Appendix 1 to Loan Contract C150288
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