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Project Summary — North Steriing irrigation District — Contract <br />No. C150293 <br />S�CfiION 1 —BORROW�Ft INFORMAfiION <br />Name: North Sterling Irrigation District <br />Address: 112 N. 8"' Avenue, P.O. Box 103, Sterling, CO <br />80751 <br />Contact: <br />Phone Number: <br />E-mail address: <br />Type of Entity: <br />Jim Yahn <br />970-522-2025 <br />jim@northsterling.org <br />The North Sterling Irrigation District is an <br />irrigation district formed pursuant to and <br />governed by Article 41, Title 37, C.R.S. and <br />IaCate� in Logan Gounty. <br />Section 2 — Project Description <br />A. Description of PRO�ECT: The BoRROwER applied to the CWCB for a loan to <br />be used for the construction of the North Sterling Reservoir Dam and <br />Spillway Improvement Project, located in Logan County, hereinafter <br />referred to as the PRO.IECT, at an estimated total cost of $1,204,450. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br />report on the PRO�ECT compiied by Jim Yahn, P.E., which is incorporated <br />herein by reference, and, based upon the feasibility report, the CWCB <br />determined the PRO�ECT to be technically and financially feasible. <br />SECTION 3 — CWCB'S AUTHORITY <br />Construction Fund: This loan is made pursuant to the provisions of §§ <br />37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for <br />water projects from the CWCB Construction Fund for the benefit of the people of <br />the state, provided that the borrower assures repayment of that money. <br />Small Proiect Loan; This loan is made pursuant to the provisions of §§ <br />37-60-119 and 37-60-120, C.R.S., which authorizes the CWCB to loan money for <br />water projects for the benefit of the people of the State, provided that the <br />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 <br />Trust Fund Perpetual Base Ac�ount Fund without prior approval from the <br />General Assembly <br />SEC�ION 4 - BOAPtB APPROVAL <br />At its May 2009 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BoRROwER in an amount up to $1,094,540 f0f PROJECT <br />Appendix 1 to Loan Contract C150293 <br />Page 1 of 4 <br />