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wA- E�`Sgr��C�, <br />COLORADO WATER RESOURCES & <br />o� Pp. <br />'����� POWER DEVELOPMENT AUTHORITY <br />rif �Q rP Logan Tower Bldg. - Suite 620, 1580 Logan Street, Denver; Colorado 80203 -1942 <br />E� 303/830 -1550 FAX 303/832 -8205 <br />MEMORANDUM <br />January 16, 2003 <br />TO: Project Finance Committee and Mary Hammond <br />FROM: Keith McLaughlin, Senior Financial Analyst <br />Jamie Grisinger, Financial Analyst <br />RE: Review of the Town of Lyons, Drinking Water Revolving Fund ("DWRF ") <br />Mr. Barry Cress and Mr. Scott Olene of the Division of Local Government have forwarded to the DWRF <br />Committee their analyses on the above listed project. The DWRF Committee, composed of representatives from <br />the Division of Local Government, the Water Quality Control Division, and the Authority, has reviewed the <br />technical and financial aspects of the proposed project and agreed to forward the request to the Authority's Project <br />Finance Committee with the following recommendation. <br />• Town of Lyons <br />The Town of Lyons, located in Boulder County, is seeking a leveraged loan in the amount of $3,018,000 plus cost <br />of issuance. The project consists of upgrading the existing water treatment plant with new clarification equipment, <br />microfiltration membranes, UV light system for primary disinfection, and hpochlorite dosing. The Town's project <br />was authorized by SJR 95 -19. <br />Recommendation <br />Based on the attached credit report, Staff recommends that the Project Finance Committee forward to the Board a <br />recommendation authorizing Staff to begin negotiating a leveraged loan for the Town of Lyons in the amount of <br />$3,018,000 plus cost of issuance. The loan term will be for 20 years at an interest rate of 80% of the market rate <br />on the Authority's Drinking Water Revenue Bonds 2003 Series A. The Board would consider this request on <br />January 24, 2003. <br />Note: A telephone conference call has been scheduled for 2:00 p.m. Tuesday, January 21, 2003. <br />Attachments: Town of Lyons Credit Report <br />• <br />