C150366 Approval Letter

• Contract/PO #: CT2015-057
• Contract/PO #: C150366
• Contractor Name: Windsor, Town of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Loan Projects - Doc Type: Approval Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
DATE: September 13, 2013 (Updated September 30, 2013)
SUBJECT: Agenda Item 30a, September 24 -25, 2013 Board Meeting
Finance — Water Project Loans
Town of Windsor — Kyger Reservoir Project
Introduction
The Town of Windsor (Town), acting by and through its Water Activity Enterprise, is applying for a
loan for the Kyger Reservoir Project (Project). The purpose of the Project is to purchase and develop
the Kyger Reservoir to provide water storage to meet the Town's current and future water supply
needs. The total Project cost is estimated to be $6,300,000. The Town is requesting a CWCB loan for
approximately 70% of Project cost. See attached Project Data Sheet for a location map and Project
summary.
Staff Recommendation (Board approved staff recommendation on September 25, 2013)
Staff recommends the Board approve a loan not to exceed $4,545,000 ($4,500,000 for project cost
and $45,000 for the I% Loan Service Fee) to the Town of Windsor, acting by and through its Water
Activity Enterprise, for the Kyger Reservoir Project from the Construction Fund. The loan terms
shall be 20 -years at the municipal high income rate of 2.75% per annum. Security for the loan shall
be in compliance with CWCB Financial Policy #5.
Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection
Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning
John W. Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
FROM: Jonathan Hernandez, P.E., Pro *ct Manage
Kirk Russell, > P.E. Chief 4&
DNR Executive Director
James Eklund
CWCB Director
Finance and Administration Section
DATE: September 13, 2013 (Updated September 30, 2013)
SUBJECT: Agenda Item 30a, September 24 -25, 2013 Board Meeting
Finance — Water Project Loans
Town of Windsor — Kyger Reservoir Project
Introduction
The Town of Windsor (Town), acting by and through its Water Activity Enterprise, is applying for a
loan for the Kyger Reservoir Project (Project). The purpose of the Project is to purchase and develop
the Kyger Reservoir to provide water storage to meet the Town's current and future water supply
needs. The total Project cost is estimated to be $6,300,000. The Town is requesting a CWCB loan for
approximately 70% of Project cost. See attached Project Data Sheet for a location map and Project
summary.
Staff Recommendation (Board approved staff recommendation on September 25, 2013)
Staff recommends the Board approve a loan not to exceed $4,545,000 ($4,500,000 for project cost
and $45,000 for the I% Loan Service Fee) to the Town of Windsor, acting by and through its Water
Activity Enterprise, for the Kyger Reservoir Project from the Construction Fund. The loan terms
shall be 20 -years at the municipal high income rate of 2.75% per annum. Security for the loan shall
be in compliance with CWCB Financial Policy #5.
Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection
Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning