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Project Summary — Stagestop Owners Association — Contract No. <br /> C150310 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Stagestop Owners Association <br /> Address: 493 Stagestop Road SSD-5, Jefferson, CO 80456 <br /> Contact: Paul Skeffington <br /> Phone Number: 719-836-2805 <br /> E-mail address: pskeff @wildblue.net <br /> Type of Entity: a 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 for the construction of the Stagestop Water Augmentation Reservoirs <br /> Project, located in Park County, hereinafter referred to as the PROJECT, at an <br /> estimated total cost of $212,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> on the PROJECT entitled "Feasibility of Rehabilitation of the Stagestop Water <br /> Augmentation Reservoirs, May 2010" compiled by Paul Skeffington, Stagestop <br /> resident, and Jim McNeil, P.E. of Alpine Engineering Inc., which is incorporated <br /> herein by reference, and, based upon the feasibility report, the CWCB determined <br /> the PROJECT to be technically and financially feasible. <br /> 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 /> Small Project Loan: This loan is made pursuant to the provisions of §§ 37-60-119 and <br /> 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects for the <br /> benefit of the people of the State, provided that the borrower assures repayment of that <br /> 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 2010 meeting, the CWCB approved a Small Project Loan from the Construction <br /> Fund to the BORROWER in an amount up to $192,708 for PROJECT costs, not to exceed 90% <br /> of the cost of the PROJECT, with a loan origination fee of 1% in accordance with CWCB <br /> Policy No. 16, at an interest rate of 4.25% per annum for a repayment term of 20 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> Appendix 1 to Loan Contract C150310 <br /> Page 1 of 4 <br />