C150322 approval ltr

• Contract/PO #: CT2015-042
• Contract/PO #: C150322
• Contractor Name: Lake Canal Reservoir Company
• Contract Type: Loan
• County: Larimer
• County: Weld
• Loan Projects - Doc Type: Approval Letter

Ca(:e Canal Reservoir Compan}� Agenda it�m 20a
September 2, 2Q1 l(iipdated September 20, 2(Fll ►
Page 2 of 5
Laan Feasibility Study
The Loan Feasibility Study, "Feasibiliiy Study for Rehabilitation of North Gray Reserrroir," dated
August, 2a11, was prepared by Duane H Smith, P.E. and Clint Brown, P.E. with Smith
Geotechnical Engine,�ring, Ine. The study was prepared in accordance wi#h the CWCB guideiines
and includes a.lternatives analysis, engineering design and cost estirnates.
Lake Canai Reservoir Company
The Lake CanaJ Reservair Company is a Nonprofit Colorado Mutua.l Ditch Gompany incorporated
in January I902 and is in good standing with the Colc�rado Secretary of State's Of#ice. The
Company's facilities consist of the storage reservoirs knawn as North Gray Reservair, South Gray
Reservoir, and Gray Reservoir No. 3 located in I,arimer County. The service area includes
approximately 5,200 acres of irrigated farm land in Larimer and Weld Coun.ties in Coiarado.
The Company is managed by a five-member board of directors. The board has the power to take on
debt. Shareholders raaust appro�e assessn�ents that are set at the Company's annual meeting. The
Company's by-Iaws permit it to cut off water deiiver;� and/or sell the shares af stock if assessnzents
are not paid.
The Company has issued 160 shares of stock o�iyned by 49 stockholders. Shares af stock are owned
by private and public shareholders; however all af the water is currently used for agriculiurat
puxposes.
Water Rights
Water stored in the Gray Reservoirs is reieased back into Box Elder Creek and then diverted into
the I.,ake Canai Ditch and delivered to the irrigated farm and pasture land. The Lake Canal Ditch is
owned by the Lake Canal Campany which is a separate company fram the Reservoir Company;
however, all of the water stored and delivered from the Gray Reservoirs is owned by shaxeholder�
of the La.ke Canal Company.
TARI.F. ]� WATF.R RiC�NT�
Res�rvvi� �p�ria#io.� I�e �age �ie%ght �#oxa:ge
` {f�eet� Vt�I�e �(A:� }
North Gx'ay.---_.._.._�.A�ril.._l�..l$$2...._.... ---------- ;. 7.5 ... ..........---------=--136--------------
_._.....--------�---- _
;1Vovember 1, 1902 � 11.� ; 139
...-----_.._.._ _.__.._._...w�..._._....-----.....----------------.....--..._......___�._�..._�._.__.._..._..- ........................�..----.....__.._....----__._----_..._...
; November 15, 1904 ; 13.65 58
_. _ . ._�_North �rav Subtotal __ � -.---..._ _ _ �.. 333 _...._
...--- --
_. _.. �-- --- - _ __ . _
�
: :
_._.. —. _ .........._ _.._ __ ._ � __�_ _ _ __ ..---
South Gra�_ _, . r_April t, 1882 , 6 C� ' 275
_.___ _ . _ _.. ... _ _ � _._ .._..__ . _._.
; Novem�er l, i9G�2 , 1.4.{) 237
_ _ . . . _ . _ �___ ___ . . . � .--. • --... _ ._ �_ . _._. _. -- -..
-
': Nflti ember 10, i 904 � 18.0 ' 222
' �iautla Grav �uhtota� ' _.._..._ _ _ ._..... __; ?�4_.. .,.�.., ._
� ,
_.._ ....................................._._........._....._.._...._......r_..... _....._............ ... _ .. ... . ....._ ..... _ ...._. . ,..._..�......
i
i
.....� i........... .__._ .......... .. ..._.._.._. . ... . _..._.... .. .. ... .. ..... ...... ..._ .... ._.,._..._...
_ _ _.
Grav '`ti`a 3 '��av��nt��.r 1�, 1�E3� S I`� Q I i l
._ --- -..... _�.....__ _ ._ _ _.._.. _ _..__.. _. _ .._ ._ _. _ ; .. . _ _. ._.. _ .__.
_'... .......__ ... .i........ ........._..._ . ..__ . .. ._.........._.... ._....,.... .f.... _ ........ ... ..........._ ... T..._.._ .. .. ................. _..,___...._.._...
; TdDt�1 �$�i�� � �$� �i$S �����