C150259 contract docs

• Contract/PO #: C150259
• Contractor Name: Bijou Irrigation District
• Contract Type: Loan
• Water District: 1
• County: Morgan
• County: Weld
• Loan Projects - Doc Type: Contract Documents

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Project Summary — Bijou Irrigation District — Contract No. C150259
SECTION 1 -BORROWER INFORMATION
Name: Bijou Irrigation District
Address: P.O. Box 972, Fort Morgan, CO 80701
Federal Identification No.: 84-0149210
Contact: Denice Wagner, Secretary
Phone Number: [phone] Fax Number: [phone]
E-mail address: [e-mail]
Type of Entity: a Colorado Irrigation District organized under the Irrigation
District Law of 1905 (C. R.S. 37-41-101 to —160)
Section 2 — Project Description
A. Description of PRO�ECT: The BoRROwER applied to the CWCB for a loan to be
used for the rehabilitation of Empire Reservoir, located in Weld and Morgan
Counties, hereinafter referred to as the PRO�ECT, at an estimated total cost of
$2,650,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PRO�ECr dated November 2007, compiled by Tara Schutter, PE of Applegate
Group, LLC, which is incorporated herein by reference, and, based upon the
feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3 - CWCB'S AUTHORITY
Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to
the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.
Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly
SECTION 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED�
At its January 2008 meeting, the CWCB approved a loan from the Severance Tax Trust
Fund Perpetual Base Account to the BORROWER in an amount up to $2,408,850 for
PROJECT COStS, not to exceed 90% of the cost of the PRO�ECT, with a loan origination fee of
1% in accordance with CWCB Policy No. 16, at an interest rate of 2.25% per annum for a
repayment term of 30 years.
SECTION 5- SCHEDULE OF EXISTING DEBT
The Borrower has two existing loans with the CWCB: 1) Loan Contract C150199, dated
September 8, 2006 and amended August 20, 2007, in the amount of $723,950 at an
Appendix 1 to Loan Contract C150259
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