C150380 Contract

• Contract/PO #: CT2015-020
• Contract/PO #: C150380
• Contractor Name: Consolidated Home Supply Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY
Consolidated Home Supply Ditch and Reservoir Company
Contract No. C150380
SECTION 1 —BORROWER INFORMATION
Name: Consolidated Home Supply Ditch and Reservoir Company,
a Colorado nonprofit corporation
Address: 1650 West 8th St., Loveland, Colorado, 80537
Contact: Minerva Lee, President
Phone Number: 970-622-2212
E-mail address: mlee @ncwcd.org
Type of Entity: Colorado nonprofit corporation
SECTION 2—PROJECT DESCRIPTION
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan for the
Emergency George Rist Ditch Repair to repair damages to the diversion structure
and ditch caused by the 2013 flood event ("PROJECT").
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
dated October 31, 2013 on the PROJECT, titled "Emergency Loan Application and
Feasibility Study", which was prepared by Minerva Lee, President, Consolidated
Home Supply Ditch and Reservoir Company, Berthoud, Colorado, with assistance
from Deere & Ault Consultants, and is incorporated herein by reference. Based
upon the feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3—CWCB's AUTHORITY
Severance Tax Perpetual Base Fund: This loan is made pursuant to the provisions of
§§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to
loan money for water projects from the CWCB Severance Tax Perpetual Base Fund for
the benefit of the people of the state, provided that the BORROWER assures repayment
of that money.
Section 37-60-122(1)(b), C.R.S., authorizes the CWCB to make loans of up to
$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Assembly.
SECTION 4- BOARD APPROVAL
At its November 20, 2013 meeting, the CWCB approved a Small Project Loan from the
Severance Tax Perpetual Base Fund to the BORROWER in an amount up to $444,000
for PROJECT costs, not to exceed 100% of the cost of the PROJECT, with a loan origination
fee of 1% of the cost of the PROJECT, in accordance with CWCB Policy No. 16, resulting
in a total loan amount of $448,440 for 30 years with no payments and zero interest for
the first three years followed by 27 years of amortized payments at the interest rate of
1.95%.
Appendix 1 to Loan Contract C150380
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