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Project Summary - AGUA - Contract No. C150156 <br />SECTION 1 -BORROWER INFORMATION <br />Name: Arkansas Groundwater Users Association <br />Address: P. O. Box 7 <br />Manzanola, CO 81058 <br />Federal Identification No.: 84-1268595 <br />Contact: Brenda Fillmore, Manager <br />Phone Number: 719-462-5140 Fax Number: 719-462-5755 <br />E-mail address: agua@centurytel.net <br />Type of Entity: Colorado nonprofit corporation <br />Section 2 — Project Description <br />Description of PRO�ECT: The BoRROwER applied to the CWCB for a$970,448 �oan for (1) <br />purchase 785 shares of stock in the Excelsior Irrigating Company for replacement water to <br />offset out-of-priority depletions from well pumping, and (2) construction of a recharge pond <br />and enlargement of approximately four miles of the Excelsior Ditch for recharge water deliver, <br />hereinafter referred to as the PRO,IECT, at an estimated totat cost of $1,082,108. <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PRO�ECr compiled by Tetra Tech RMC, Consulting Engineers, entitled "Feasibility <br />Study Augmentation Water Acquisition" dated September 2003, which is incorporated <br />herein by reference, and, based upon the feasibility report, the CWCB determined the <br />PRO�ECr to be technically and financially feasible. <br />SECTION 3 - CWCB'S AUTHORITY <br />Arkansas Loan Account. Part of this loan is made pursuant to the provisions of §37- <br />60-130, C.R.S., as amended by Senate Bill 97-8, Section 17, which authorize the <br />CWCB to expend up to $3,500,000 from the Arkansas River Augmentation Loan <br />Account for the purpose of making loans to organizations for the purchase of <br />augmentation water to replace out-of-priority depfetions to surFace water rights and to <br />prevent material depletions of usable stateline flows in violation of the Arkansas River <br />Compact, provided that the borrower meets certain criteria set forth at § 37-60-130(3), <br />C.R.S. <br />Small Proiect Loan: The remaining portion of this loan is made pursuant to the <br />provisions of §§ 37-60-119 and 37-60-120, C.R.S., which authorizes the CWCB to loan <br />money for water projects for the benefit of the people of the State, provided that the <br />borrower assures repayment of that money. Section 37-60-122(1)(b) C.R.S., <br />authorizes the CWCB to make loans of up to $5,000,000 from the CWCB's <br />Construction Fund and the State Severance Tax Trust Fund Perpetual Base Account <br />Fund without prior approval from the General Assembly. <br />Appendix 1 to Loan Contract C150156 <br />