C150242 Contract

• Contract/PO #: C150242
• Contractor Name: Seven Lakes Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• County: Weld
• Loan Projects - Doc Type: Contract Documents

Project Summary - Seven Lakes Reservoir Company - Contract No.
C150242
SECTION 1 — BORROWER INFORMATION
Name: Seven Lakes Reservoir Company
Address: 808 23rd Street, Greeley, CO 80634
Federal Identification No.: 84- 0317150
Contact: Ron Brinkman
Phone Number: 970 - 352 -0495
E -mail address: rbglic @aol.com
Type of Entity: a Colorado nonprofit corporation
Section 2 — Project Description
A. Description Of PROJECT: The BORROWER applied to the CWCB for a loan to be
used to replace the railroad crossing culvert over Dry Creek, located in Larimer
County, hereinafter referred to as the PROJECT, at an estimated total cost of
$850,210.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility Study," compiled by John Gauthiere, P.C., which
is incorporated herein by reference, and, based upon the feasibility report, the
CWCB determined the PROJECT to be technically and financially feasible.
SECTION 3 — CWCB'S AUTHORITY
Severance Tax Trust Fund Perpetual Base Account. This loan is made pursuant to
the provisions of §§ 39- 29- 109(1)(a)(1), 37 -60 -119 and 37 -60 -120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.
Section 37- 60- 122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly
SECTION 4 - BOARD APPROVAL
At its January 2007 meeting, the CWCB approved a loan from the Severance Tax Trust
Fund Perpetual Base Account to the BORROWER in an amount up to $765,190 for PROJECT
costs, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in
accordance with CWCB Policy No. 16, at an interest rate of 2.95% per annum for a
repayment term of 30 years.
SECTION 5 — SCHEDULE OF EXISTING DEBT
No existing debt.
SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Security
Appendix 1 to Loan Contract C150242
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