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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources w <br /> 1313 Sherman Street,Room 721 ti4• <br /> Denver,Colorado 80203 <br /> Phone:(303)866-3441 * * <br /> Fax:(303)866-4474 <br /> 1876 <br /> www.cwcb.state.co.us <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 .912 <br /> Kirk Russell, P.E., Chief SZ James Eklund <br /> CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2014) <br /> SUBJECT: Agenda Item 30b, May 21-22,2014 Board Meeting <br /> Water Infrastructure and Supply Efficiency(WISE) Project Loans <br /> Inverness Water and Sanitation District <br /> Introduction <br /> The Inverness Water& Sanitation District(Inverness or District)is requesting a loan for its participation <br /> in the Water Infrastructure and Supply Efficiency(WISE)Project. The WISE Project is included in the <br /> CWCB Projects Bill (HB14-1333). For the purposes of this loan,the Project is defined as the District's <br /> participation therein. The goal of the Project is to reduce the District's dependence on non-renewable <br /> water sources. The District is requesting a loan from the CWCB for 90%of its $5,400,000.00 <br /> participation cost. See attached Project Data Sheet for a 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 amount not to exceed$4,908,600 ($4,860,000 for <br /> Project costs and $ 48,600 for the 1% Loan Service Fee)to the Inverness Water& Sanitation District <br /> for its participation in the Water Infrastructure and Supply Efficiency(WISE) Project from the <br /> Construction Fund. The loan terms shall be 20 years at the reduced high- income municipal interest <br /> rate of 2.75%per annum. Security for the loan shall be in compliance with 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 />