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Emergency Loan Application and Feasibility Study Palmerton Consolidated Ditch Company <br />Project Background <br />During the unprecedented flood of September 2013 in the tributaries to the South Platte River, a <br />significant number of diversion structures and dams along the river corridor were damaged. The <br />infrastructure subject of the proposed Project in this Emergency Loan Application received <br />substantial damage as a result of the flood. <br />In particular, the Company's diversion structure and ditch infrastructure were substantially <br />damaged. Without repair/rehabilitation (best case) or without the complete reconstruction (worst <br />case) of these facilities, the Company will be unable to deliver any water to its shareholders who <br />collectively irrigate approximately 1,420 acres of cropland located generally to the East of Lyons <br />and into the Hygiene area (the Company identified its engineering consultant listed herein <br />recently with an emphasis on provided the estimate of damages on which this application is <br />based -the Company and or its engineering consultant will create and submit as supplemental <br />material hereto a map of the Company's service area), and to the City of Longmont which takes <br />delivery of its share water (the City owns approximately 13% ofthe Company's outstanding <br />shares) for municipal use. Additionally, the Palmerton Ditch is the decreed point of diversion for <br />McCall Lake and for Burch Lake (a/k/a Oligarchy Reservoir No. 1), each of which are utilized <br />for storage and delivery of municipal water to the City's Wade Gaddis water treatment facility <br />just east ofthe Town of Lyons. Due to the damage noted herein, without <br />repair/rehabilitation/reconstruction of the subject infrastructure, the Company will also not be <br />able to deliver any water to either reservoir. <br />Water Rights <br />The water rights impacted by this project include: <br />Name Water Appropriation Adjudication Amount Avg. Annual <br />Court Case Date Date (cfs or AF) Yield (AF) <br />Palmerton Consolidated <br />Ditch Company (Priority CA1394 4,285 for all <br />23) 5-31-1865 6-2-1882 32.35 cfs water rights <br />Palmerton Consolidated <br />Ditch Company (Priority CA1394 5-31-1866 6-2-1882 47.70 cfs " <br />30-first enlargement) <br />Palmerton Consolidated <br />Ditch Company (Priority CA1394 6-30-1874 6-2-1882 84.26 cfs " <br />30-second <br />enlargement) <br />Project Description <br />The Company seeks funding assistance to repair/rehabilitate/reconstruct its diversion structures <br />and portions of its conveyance infrastructure to allow the Company to distribute water to its <br />agricultural and municipal shareholders. The Company notes that some, but not all, of the <br />infrastructure related to this request may also have been included in the loan requested by the <br />Rough & Ready Irrigating Ditch Company and approved by the CWCB at its special Board <br />meeting on October 21st. Subsequent to the submittal of the Rough & Ready loan request, the <br />two companies began discussion related to what each entity structurally requires for their