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0 <br />Project Summary — The Jackson Ditch Company — Contract No. <br />C150323 <br />SECTION 1 -- BORROWER INFORMATION <br />Name: The Jackson Ditch Company <br />Address: P.O. Box 1584, Fort Collins, CO 80522 <br />Contact Dennis Harmon, General Manager <br />Phone Number: 970 - 482 -3433 <br />E -mail address: dharmon @frii.com <br />Type of Entity: a Colorado nonprofit corporation <br />Section 2 — Project Description <br />A. Description Of PROJECT: The BORROWER applied to the CWCB for a loan to be <br />used for the construction of the System Rehabilitation Project, located in Jefferson <br />and Adams Counties, hereinafter referred to as the PROJECT, at an estimated total <br />cost of $137,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />on the PROJECT entitled "Feasibility Study: The Jackson Ditch Company main Head <br />Gate Check Structure Rehabilitation Project," dated July 2011, compiled by Dennis <br />Harmon, General Manager, which is incorporated herein by reference, and, based <br />upon the feasibility report, the CWCB determined the PROJECT to be technically and <br />financially feasible. <br />SECTION 3 — CWCB's AuTHORrry <br />Construction Funah 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 Project 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 September 2011 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BORROWER in an amount up to $124,533 for PROJECT costs, not to <br />exceed 90% of the cost of the PROJECT, with a loan origination fee of I% in accordance with <br />CWCB Policy No. 16, at an interest rate of 3.60°x6 per annum for a repayment term of 30 <br />years. <br />Appendix "I to Loan Contract C150323 <br />Page 1 of 4 <br />