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Project Summary — Center of Colorado Water Conservancy District — <br />Contract No. C150276 <br />SEC710N 1 —BORROWER INFORMATION <br />Name: Center of Colorado Water Conservancy District <br />Address: P.O. Box 1747, Fairplay, CO 80440-1747 <br />Contact: Daniel J. Drucker <br />Phone Number: 303-838-0302 <br />E-mail address: djd@mailstation.com <br />Type of Entity: The District is a water conservancy district formed <br />pursuant to and governed by Article 45, Title �7, C.R.S. <br />and located in Park County. The BoRROwER held an <br />election on November 4, 2008, whereby voters <br />approved increasing the BORROWER debt by up to <br />$500,000 to be used for the purpose of constructing the <br />James Tingle Resenioir, as shown on the BoRROwER's <br />Official Ballot and Official Election Results, which are <br />incarporate�d hersin by r�ferenc�. <br />Section 2 — Project Description <br />A. Description of PRO�ECT: The BoRROwEtz applied to the CWCB for a loan to be <br />used for the construction of the James Tingle Reservoir, located in Park County, <br />hereinafter referred to as the PRO�ECT, at an estimated total cost of $3,565,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility Study <br />report on the PRO�ECT compiled by Jarnes W. Culichia of Fe{t, Monson, Culichia, <br />LLC, which is incorporated herein by reference, and, based upon the feasibility <br />report, the CWCB determined the P�o�ECT to be technically and financially <br />feasible. <br />SECTION S — CWCB'S AUTHORITY <br />Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant t4 <br />the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-G0=120, C.R.S., which <br />authorize the CWCB to loan money for water projects from the CWCB Severance Ta�c <br />Trust Fund Perpetual Bas� 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 /#ND LEGISLA7'IVE AU7HORIZATION (IF NEEDED� <br />At its November 2008 meeUng, the CWCB approved a loan from the Severance Tau Trust <br />Fund Perpetual Base Account to the BoRROwER in an amount up to $454,500 for PRaECT <br />costs, not to exceed 90% of the cost of the PRO�ECT, with a loan origination fee of 1% in <br />Appendix 1 to Loan Contract C150276 <br />Page 1 of 4 <br />