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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources w •COQ' <br /> 1313 Sherman Street,Room 721 _ . fi`I-' <br /> ' <br /> Denver,Colorado 80203 ,, <br /> Phone: 303 866-3441 * ' <br /> Fax:(303)866-4474 1g7. 4. <br /> www.cwcb.state.co.us ,q <br /> John W.Hickenlooper <br /> Governor <br /> TO: Colorado Water Conservation Board Members <br /> Mike King <br /> DNR Executive Director <br /> FROM: Derek Johnson, P.E., Project Manager 1P Q� <br /> Kirk Russell, P.E. Chief �(,ls James Eklund <br /> > P.E., CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2014) <br /> SUBJECT: Agenda Item 30a, May 21-22,2014 Board Meeting <br /> Water Infrastructure and Supply Efficiency(WISE) Project Loans <br /> Cottonwood Water and Sanitation District <br /> Introduction <br /> The Cottonwood Water& Sanitation District(Cottonwood or District),acting by and through its water <br /> activity enterprise, is requesting a loan for its participation in the Water Infrastructure and Supply <br /> Efficiency(WISE)Project. The WISE Project is included in the CWCB Projects Bill (HB14-1333).For <br /> the purposes of this loan,the Project is defined as the District's participation therein. The goal of the <br /> Project is to reduce the District's dependence on non-renewable water sources. The District is requesting a <br /> loan from the CWCB for 90%of its$4,960,000.00 project cost. See attached Project Data Sheet for a <br /> location map and a project summary. <br /> Staff Recommendation (Board approved staff recommendation on May 22,2014) <br /> Staff recommends the Board approve a total loan not to exceed $4,508,640 ($4,464,000 for Project <br /> costs and $44,640 for the 1% Loan Service Fee)to the Cottonwood Water& Sanitation District, acting <br /> by and through its water activity enterprise, for its participation in the Water Infrastructure and Supply <br /> Efficiency (WISE) Project from the Construction Fund. The loan terms shall be 30 years at the high- <br /> income municipal interest rate of 3.0%per annum. Security for the loan shall be in compliance with <br /> CWCB Financial Policy#5. <br /> Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection <br /> Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning <br />