Laserfiche WebLink
Project Summary - Granby Ditch and Reservoir Company - Contract <br />No. C150266 <br />SECTION 1 —BORROWER INFORMATION <br />Name: Granby Ditch and Reservoir Company <br />Address: P.O. Box 399, Cedaredge, CO 81413 <br />Contact: Chuck Richards, Secretary <br />Phone Number: 970-856-3165 Fax Number: 970-856-2588 <br />E-mail address: gmwua@tds.net <br />Type of Entity: a Colorado ditch company <br />Section 2 — Project Description <br />A. Description of PRO�ECT: The BoRROwER applied to the CWCB for a loan to be <br />used to repair the dam at Granby #12 Reservoir, located in Delta County, <br />hereinafter referred to as the PRO�ECT, at an estimated total cost of $280,000. <br />B. Description of Feasibility Sfudy: The CWCB has reviewed a feasibility study report <br />on the PRO�ECr entitled "Feasibility Study," dated April 2008, compiled by the <br />Company with the support of Buckhom Geotech, which is incorporated herein by <br />reference, and, based upon the feasibility report, the CWCB determined the <br />PRO�ECT to be technicalty and financially feasible. <br />SECTION 3 — CWCB'S AUTHORITY <br />Severance Tax Trust Fund Perpetua► 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 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Assembly. <br />SECTION 4 - BOARD APPROVAL <br />At its May 2008 meeting, the CWCB approved a Smalf Project Loan from the Construction <br />Fund to the BoRROwER in an amount up to $252,000 for PRO�ECr costs, not to exceed 90% <br />Of th@ COSf Of the PROJECT with a laan origination fee of 1°!o in accordance with CWCB <br />Policy No. 16, at an interest rate of 2.35% per annum for a repayment term of 30 years. <br />SECTION S— SCHEDULE DF EXISTING DEBT <br />No existing debt. <br />SECTtON 6 - COLLATERAL <br />The collateral provided for this loan, as evidenced by the executed Security <br />Agreement, in the form attached as Appendix 4 and incorporated herein, shall be a <br />Appendix 1 to Loan Contract C150266 <br />Page 1 of 3 <br />