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� <br />� <br />Project Summary - Town of DeBeque - Contract No. C150241 <br />SECTION 1 —BORROWER INFORMATION <br />Name: Town of DeBeque, acting by and through its Irrigation <br />System Enterprise <br />Address: P.O. Box 60, DeBeque, CO 81630 <br />Federal Identification No.: 84-6006452 <br />Contact: Donald Cramer, Mayor <br />Phone Number: 970-283-5475 Fax Number: 970-283-5205 <br />E-mail address: clerk@debeque.org <br />Type of Entity: The Borrower is a Colorado municipality acting by and <br />through its Irrigation System Enterprise. <br />Section 2 — Project Description <br />A. Description of PRO�ECT: The BoRROwER applied to <br />used for the Irrigation System Improvements Proj� <br />hereinafter referred to as the PRO�ECr, at an�st�at <br />B. Description of Feasibility Study: <br />report on the PRO�ECT <br />reference, and, base <br />PRO�ECT to be tecT�c, <br />SECTION 3 — CWCB'S AUT <br />pon th feasi <br />and fina <br />�-u• <br />ble. <br />the CW B for a loan to be <br />;�� I te Mesa County, <br />;d tot ost f $370,000. <br />review feasibility study <br />iich is incorporated herein by <br />the CWCB determined the <br />Severance Tax Trust Func1 Perpetual 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 />$5,000,000 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 AND LEGISLATIVE AUTHORIZATION (IF NEEDED� <br />At its January 2007 meeting, the CWCB approved a loan from the Severance Tax Trust <br />Fund Perpetual Base Account to the BORROWER in an amount up to $250,000 for <br />PROJECT COStS not to exceed 70% of the cost of the PRO�ECT, with a loan origination fee of <br />1% in accordance with CWCB Policy No. 16, at an interest rate of 3.25% per annum for a <br />repayment term of 30 years. <br />SECTION 5— SCHEDULE OF EXISTING DEBT <br />No existing debt. <br />SECTION 6— ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br />Appendix 1 to Loan Contract C150241 <br />Page 1 of 3 <br />