C150372 Approval Letter - Laserfiche WebLink

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Oligarchy Irrigation Company October 18, 2013 (Updated October 21, 2013) Page 2 of 5 Agenda Item 8d Background The Company serves approximately 2,700 irrigated acres in Boulder and Weld Counties north of Longmont. 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, including the Company's river diversion for the Oligarchy Ditch. Prior to the 2013 flood, there was a buttressed concrete dam across the river to provide head for the diversion with an adjacent, but connected, concrete headgate structure with a sand gate and two headgates that regulate the flow diverted into the Oligarchy Ditch. This sand gate had previously been retrofitted with a Rubicon flumegate which allowed flows bypassing the Oligarchy diversion to be controlled and measured. Additionally, there was a flow regulating, or bypass, gate in the ditch between the river diversion and the Oligarchy Ditch measuring flume. After the 2013 flood, only a small portion of the diversion dam and right abutment of that structure remain, though it is not yet clear if they have been undermined. The remainder of the diversion dam was destroyed when it collapsed into a scour hole in the river. Likewise, the sand gate portion of the headgate structure collapsed into the river. It is not yet clear, but the Rubicon flumegate may be partially salvageable. The remainder of the headgate structure and two headgates were destroyed. During the flooding fill material was placed where the headgates had been, in order to prevent further flooding down the Oligarchy Ditch. The bypass gate had to be torn out from its structure to alleviate pressure and mitigate further damage downstream in the ditch. The ditch itself and the measuring structure were largely undamaged by the flood although some cleanup will be necessary. Loan Feasibility Study Mark Mclean, P.E. with Deere and Ault Consultants, Inc., prepared the Loan Feasibility Study titled "Emergency Loan Application and Feasibility Study," dated October 2013. The study includes an alternative analysis and preliminary engineering design and cost estimates. The study was prepared in accordance with the CWCB guidelines. Borrower — Oligarchy Irrigation Company The Company is a Colorado Non - Profit Mutual Irrigation Ditch Company that was incorporated in 1891. The Company's office is located in Longmont. It is in good standing with the Colorado Secretary of State. The Company has issued 300 shares of stock. The Company's revenues are primarily derived from assessments charged on shares of stock owned by the stockholders, carriage agreements and recreational leases The Company's by -laws authorize the Board of Directors to make all contracts that are deemed necessary for the purposes of the Company. The Board has the authority to take measures to enforce assessments including the suspension of water deliveries and the eventual sale or forfeiture of shares for failure to pay assessments.