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PROJECT SUMMARY — Boulder & Left Hand Irrigation Company <br /> Contract No. C150357 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Boulder & Left Hand Irrigation Company, a Colorado <br /> nonprofit corporation <br /> Address: 157 Baylor Way, Longmont, Colorado, 80503 <br /> Contact: John Brunner, President <br /> Phone Number: 303-652-3124 <br /> E-mail address: niwot_farm @juno.com <br /> Type of Entity: Colorado nonprofit corporation <br /> Section 2 — Project Description <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used to install a new diversion structure upstream of the Wederquist "Y" and <br /> improve the hydraulic efficiency of the ditch while reducing the Irrigation Company's <br /> operation and maintenance cost, in Boulder County, hereinafter referred to as the <br /> PROJECT, at an estimated total cost of$159,075. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated June 2013 on the PROJECT. The feasibility study, titled Feasibility of the Tracy <br /> Lateral Pipeline at the Wederquist "Y", prepared by Mike Serlet, P.E., Serlet Project <br /> Consulting, LLC, with engineering provided by Deere & Ault Consultants, 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 /> C. 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 <br /> Construction Fund to the BORROWER in an amount up to $157,500 for PROJECT costs, <br /> with $1,575 for the loan origination fee of 1% of the cost of the PROJECT, in accordance <br /> with CWCB Policy No. 16, resulting in a total loan amount of $159,075 at a blended <br /> interest rate of 2.35% per annum for a repayment term of 30 years. <br /> Appendix 1 to Loan Contract C150357 <br /> Page 1 of 4 <br />