C150273 Contract

• Contract/PO #: C150273
• Contractor Name: Ogilvy Augmentation Company
• Contract Type: Loan
• Water District: 0
• County: Weld
• Loan Projects - Doc Type: Contract Documents

Section
Summary — Ogilvy Augmentation Company — Contract No.
C150273
— BORROWER INFORMATION
Name: Ogilvy Augmentation Company
Address: 822 7t' Street, Suite 760, Greeley, CO 80631
Contact: Doug Seely
Phone Number: 970 - 988 -1459
E -mail address: [e-mail]
Type of Entity: a Colorado nonprofit corporation
— Project Description
A. D scription of PROJECT: The BORROWER applied to the CWCB for a loan to be
ui ied for the construction of the Ogilvy Augmentation Company Well
A igmentation Project, located in Weld County, hereinafter referred to as the
P tOJEcT, at an estimated total cost of $1,112,000.
B. D 3scription of Feasibility Study: The CWCB has reviewed a feasibility study report
oi i the PROJECT entitled "Feasibility Study of the Ogilvy Augmentation Company
ell Augmentation Project," dated August 2008, compiled by Doug Seely, P.E.,
w iich is incorporated herein by reference, and, based upon the feasibility report, the
C CB determined the PROJECT to be technically and financially feasible.
SECTION 13 — CWCB'S AUTHORITY
Sevelrance Tax Trust Fund Perpetual Base Account. This loan is made pursuant to
the girovisions of §§ 39- 29- 109(1xaxl), 37 -60 -119 and 37-60 -120, C.R.S., which
authc rize 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 tqie borrower assures repayment of that money.
Sect! n 37- 60- 122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$10, 00,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Asse biv.
SECTION i1- BOARD APPROVAL
At its eptember 2008 meeting, the CWCB approved a loan from the Severance Tax Trust
Fund erpetual Base Account to the BORROWER in an amount up to $1,000,800 for PROJECT
costs, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in
actor ance with CWCB Policy No. 16, at an interest rate of 2.5% per annum for a
repay ent term of 30 years.
CWC 3 will disburse funds under two contracts 1) $523,584 (including the 1 % Loan
Servi (a Fee) for: preliminary engineering; the water rights purchase of 6.0 shares of
Greeley Irrigation Company; the purchase and installation of measuring control structures
on the wells; and the construction of the recharge facility; and 2) upon water court
appro al of augmentation plan, $487,224 (including the 1% Loan Service Fee) for the 50
Aaaendix 1 to Loan Contract C150273