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PROJECT SUMMARY <br /> The North Poudre Irrigation Company <br /> Contract No. C150378 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: The North Poudre Irrigation Company, a Colorado <br /> nonprofit corporation <br /> Address: 3729 Cleveland Ave., Wellington, Colorado 80549 <br /> Contact: Scott Hummer, Manager <br /> Phone Number: 970-568-3612 <br /> E-mail address: npicscott @gwestoffice.net <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 for the <br /> Reservoir No. 4 Rehabilitation to remove the State Engineer's Office (SEO) Dam <br /> Safety Branch imposed storage restriction and improve the overall reservoir <br /> facility. The planned improvements include modifications to the dam embankment <br /> including its slope, outlet works, drains, spillway, and measurement structure. The <br /> PROJECT is located in Larimer County and the estimated PROJECT cost is <br /> $1,620,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated September 2013 on the PROJECT, titled "Feasibility of Rehabilitation of North <br /> Poudre Reservoir No. 4" which was prepared by Ronald H. Slosson, P.E., Fort <br /> Collins, Colorado and is incorporated herein by reference. Based upon the feasibility <br /> report, the CWCB determined 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 /> 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 Severance Tax Perpetual <br /> Base Fund without prior approval from the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its November 2013 meeting, the CWCB approved a Small Project Loan from the the <br /> Construction Fund to the BORROWER in an amount up to $1,620,000 for PROJECT costs, <br /> not to exceed 100% of the cost of the PROJECT, with a loan origination fee of 1% of the <br /> cost of the PROJECT, in accordance with CWCB Policy No. 16, resulting in a total loan <br /> amount of$1,636,200 at the interest rate of 2.35% per annum for a repayment term of <br /> 30 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> Appendix 1 to Loan Contract C150378 <br /> Page 1 of 4 <br />