C150376 Approval Letter

• Contract/PO #: C150376
• Contractor Name: Ish Reservoir Company
• Contract Type: Loan
• Water District: 6
• County: Boulder
• 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
TO: Colorado Water Conservation Board Members
FROM: Anna Mauss, P.E., Project Manager
Kirk Russell, P.E., Chief
Finance and Administration Section
DATE: October 18, 2013 (Updated October 21, 2013)
John W. Hickenlooper
Governor
Mike King
DNR Executive Director
James Eklund
CWCB Director
SUBJECT: Agenda Item 8g, October 21, 2013 Special Board Meeting
Finance — Emergency Loans
Ish Reservoir Company — Emergency Inlet and Diversion Structure Repair
Introduction
The Ish Reservoir Company (Company) is applying for an Emergency Loan for the Emergency
Inlet and Diversion Structure Repair Project (Project). During the unprecedented flood of
September 2013 in the tributaries to the South Platte River, a significant number of diversion
structures and dams along the river corridor were damaged. The purpose of this Project is to repair
the diversion structure and inlet shared by the Company and the Boulder and Larimer County
Irrigating and Manufacturing Ditch Company to give both companies the ability to deliver water to
shareholders. The Company's total Project cost is estimated to be $205,000. See attached Project
Data Sheet for a location map and project summary.
Staff Recommendation (Board approved staff recommendation on October 21, 2013)
Staff recommends the Board approve a loan not to exceed $207,050 ($205,000 for project cost and
$2,050 for the I% service fee) to the Ish Reservoir Company for 100% of engineering and
construction costs related to the Emergency Inlet and Diversion Structure Repair Project from the
Severance Tax Perpetual Base Fund, up to the approved loan amount. The loan terms shall be three
years of no interest followed by 27 -years at the agricultural interest rate of 1.75% per annum.
Security for the loan shall be in compliance with CWCB Financial Policy #5.
Staff additionally recommends the following contract condition:
Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to be
applied to the balance of the loan within thirty (30) calendar days after receipt of said funds.
Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection
Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning