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� <br />`J <br />Project Summary — The Joseph W. Bowles Reservoir Company — <br />Contract No. C150290 <br />SECTION 1 —BORROWER INFORMATION <br />Name: The Joseph W. Bowles Reservoir Company <br />Address: 2922 Evergreen Parkway, Suite 320, Evergreen, CO 80439 <br />Contact: Judy Simonson <br />Phone Number: 303-674-3379 ext. 201 Fax Number: 303-674-3380 <br />E-mail address: jcs@simonson.com <br />Type of Entity: a Colorado nonprofit corporation <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 construction of the Bowles No. 1 Dam and Inlet Ditch Project, located <br />in Jefferson County, hereinafter referred to as the PRO�ECT, at an estimated total <br />cost of $1,874,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />on the PRO�ECT dated March 2009, compiled by Judy Simonson and James <br />Ferentchak, P.E., which is incorporated herein by reference, and, based upon the <br />feasibility report, the CWCB determined the PROJECT to be technically and <br />financially feasible. <br />SECTION 3 — CWCB'S AUTHORITY <br />Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 and <br />37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from <br />the CWCB Construction Fund for the benefit of the people of the state, provided that <br />the borrower assures repayment of that money. <br />Small Proiect Loan: This loan is made pursuant to the provisions of §§ 37-60-119 and <br />37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects for the <br />benefit of the people of the State, provided that the borrower assures repayment of that <br />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 2009 meeting, the CWCB approved a Small Project Loan from the Construction <br />Fund to the BoRROwER in an amount up to $1,687 f01' PROJECT COStS not to exceed <br />90% of the cost of the PRO�ECT, with a loan origination fee of 1% in accordance with CWCB <br />Policy No. 16, at an interest rate of 4.65% per annum for a repayment term of 30 years. <br />SECTION 5— SCHEDULE OF EXISTING DEBT <br />No existing debt. <br />Appendix 1 to Loan Contract C150290 <br />Page 1 of 3 <br />