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0 <br />Project Summary — Crystal Lakes Water & Sewer Association — <br />Contract No. C150325 <br />SECTION 1 — BORROWER INFORMATION <br />Name: Crystal Lakes Water & Sewer Association <br />Address: 300 Tami Road, Red Feather Lakes, CO 80545 <br />Contact: Steven N. Koeckeritz, President <br />Phone Number: 970 - 881 -2250 <br />E -mail address: crystal -lakes @crystal - lakes.org <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 Lower Lone Pine Lake Enlargement Project, <br />located in Larimer County, hereinafter referred to as the PROJECT, at an estimated <br />total cost of $2,600,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />on the PROJECT entitled "Loan Feasibility Study for Enlargement of the Lower Lone <br />Pine Reservoir ", dated July 2011, compiled by Michael O'Grady of States West <br />Water Resources Corporation, Scott Parker of Anderson Consulting Engineers, and <br />Robert Krassa of Krassa & Miller, which is incorporated herein by reference, and, <br />based upon the feasibility report, the CWCB determined the PROJECT to be <br />technically and financially feasible. <br />SECTION 3 — CWCB'S AUTHORITY <br />Construction Fund. 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 November 2011 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BORROWER in an amount up to $2,363,400 for PROJECT costs, not <br />to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in accordance <br />with CWCB Policy No. 16, at an interest rate of 4.00% per annum for a repayment term of <br />30 years. <br />Appendix 1 to Loan Contract C150325 <br />Page 1 of 4 <br />