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Project Summary — Tri- County Water Conservancy District, acting by <br />and through its Water Activity Enterprise — Contract No. C150324 <br />SECTION 1 — BORROWER INFORMATION <br />Name: Tri- County Water Conservancy District, acting by and <br />through its Water Activity Enterprise <br />Address: 647 N. 7m Street, Montrose, CO 81401 <br />Contact: Mike Berry, General Manager <br />Phone Number: (970)249 -3369 <br />E -mail address: tcw @montrose.net <br />Type of Entity: The Tri- County Water Conservancy District is a water <br />conservancy district formed pursuant to and governed <br />by Article 45, Title 37, C.R.S. and located in Delta, <br />Montrose, and Ouray Counties. The District's Water <br />Activity Enterprise is a water activity enterprise <br />maintained by the District pursuant to Article 45.1, Title <br />37, C.R.S. The Enterprise is operated as an enterprise <br />within the meaning of COLO. CONST. Art. X, Section 20. <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 Tri- County Water Hydropower Project, previously <br />referred to as the Ridgway Reservoir Mico -Hydro Project, located in Ouray <br />County, hereinafter referred to as the PROJECT, at an estimated total cost of <br />$18,172,000. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br />report on the PROJECT compiled by the District with assistance from HDR <br />Incorporated and Aaron Clay, Tri- County General Counsel, which is incorporated <br />herein by reference, and, based upon the feasibility report, the CWCB determined <br />the PROJECT to be 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 <br />and 37 -60 -120, C.R.S., which authorize the CWCB to loan money for water projects <br />from the CWCB Construction Fund for the benefit of the people of the state, provided <br />that the borrower assures repayment of that money. <br />Small Project Loan: This loan is made pursuant to the provisions of §§ 37 -60 -119 <br />and 37 -60 -120, C.R.S., which authorizes the CWCB to loan money for water projects <br />for the benefit of the people of the State, provided that the borrower assures <br />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 Trust <br />Fund Perpetual Base Account Fund without prior approval from the General <br />Appendix 1 to Loan Contract C150324 <br />Page 1 of 4 <br />