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STATE OF COLORADO <br /> Colorado Water Conservation Board ■1� <br /> Department of Natural Resources .0c.`5/6 <br /> 1313 Sherman Street Room 721 <br /> o ti <br /> Denver,Colorado 80203 s y�. <br /> Phone:(303)866-3441 ` '- <br /> Fax:(303)866-4474 *s 876 s*, <br /> www.cwcb.state.co.us , .-I <br /> John W.Hickenlooper <br /> Governor <br /> TO: Colorado Water Conservation Board Members <br /> Mike King <br /> ��Pk/ DNR Executive Director <br /> FROM: Anna Mauss, P.E., Project Manager <br /> James Eklund <br /> Kirk Russell, P.E., Chief q 1?— CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2014) <br /> SUBJECT: Agenda Item 34a,May 21-22,2014 Board Meeting <br /> Water Project Loans <br /> Farmers Pawnee Canal Company—Diversion Structure Replacement Project <br /> Introduction <br /> The Farmers Pawnee Canal Company (Company) is applying for a loan for the Diversion Structure <br /> Replacement Project(Project). As a result of the September 2013 flood,the diversion structure was <br /> damaged and severely undermined. In order to repair the flood damage and address ongoing <br /> maintenance issues, the Company intends to rebuild its diversion dam and canal headgate. The total <br /> Project cost is estimated at $2,047,000. The Company is requesting a loan to cover 100%of the <br /> Project 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 loan not to exceed $2,067,470 ($2,047,000 for project costs <br /> and $20,470 for the 1% Loan Service Fee)to the Farmers Pawnee Canal Company for costs <br /> associated with design and construction of the Diversion Structure Replacement Project from the <br /> Construction Fund. The loan terms shall be 30 years at the agricultural interest rate of 1.75%per <br /> annum. Security for the loan shall be in compliance with CWCB Financial Policy#5. <br /> • <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 />