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Project Summary — Henrylyn Irrigation District— Contract No. C150358 <br />SECTION 'I — BORROWER INFORMATION <br />Name: Henrylyn Irrigation District <br />Address: 617 Birch Street, Hudson, CO 80642 <br />Contact: Rod Baumgartner, Secretary/Manager <br />Phone Number: 303 - 536 -4702 <br />E -mail address: manager @henrylyn.com <br />Type of Entity: Organized and existing as an irrigation district pursuant to <br />C.R.S. §37 -41 -101 to §37 -41 -160. <br />Section 2 — Project Description <br />A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br />used to rehabilitate the upslope of the dam to increase both the erosion protection <br />and the stability of the dam, located in Weld County, hereinafter referred to as the <br />PROJECT, at an estimated total cost of $3,264,400. <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />dated May 2013 on the PROJECT. The feasibility study, titled "Feasibility Study for <br />Prospect Reservoir Dam Facing Project," prepared by Duane Smith, P.E. with <br />Smith Geotechnical with assistance from Engineering Analytics, Inc., is <br />incorporated herein by reference. The study was prepared in accordance with the <br />CWCB guidelines. Based upon the feasibility report, the CWCB determined the <br />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 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 />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 July 2013 meeting, the CWCB approved a Small Project Loan from the Construction <br />Fund to the BORROWER in an amount up to $2,937,900 for PROJECT costs, with $29,379 for <br />the loan origination fee of 1 % of the cost of the PROJECT, in accordance with CWCB Policy <br />No. 16, resulting in a total loan amount of $2,967,279 at an interest rate of 1.75% per <br />annum for a repayment term of 30 years. <br />SECTION 5 — SCHEDULE OF EXISTING DEBT <br />The DISTRICT currently has a total outstanding long -term debt of $2,370,549 made up of <br />Appendix 1 to Loan Contract C150358 <br />Page 1 of 4 <br />