C150392 Contract

• Contract/PO #: C150392
• Contractor Name: Sylvan Dale Ranch, LLLP
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY
Sylvan Dale Ranch, LLLP
Contract No. C150392
SECTION 1 —BORROWER INFORMATION
Name: Sylvan Dale Ranch, LLLP
Type of Entity: A Limited Liability Limited Partnership
Address: 2939 N CR 31 D, Loveland Colorado 80538
Contact: David Jessup, General Partner
Phone Number: 970-481-8342
Email Address:. davidj(�s llvandale.com
SECTION 2 — PROJECT DESCRIPTION
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan for the
Emergency Irrigation Pond Excavation Project, to excavate irrigation ponds that
were silted during the 2013 flood event and restore them to their former use
("PROJECT"). The PROJECT is located in Larimer County and the estimated PROJECT
cost is $104,130.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
dated December 19, 2013 on the PROJECT, titled "Emergency Loan Application and
Feasibility Study" which was prepared by David Jessup, General Partner of Sylvan
Dale Ranch, Loveland, Colorado and is incorporated herein by reference. Based
upon the feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3 — CWCB'S AUTHORITY
Severance Tax Perpetual Base Fund. This loan is made pursuant to the provisions of
§§ 39-29-109(1)(a)(1), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to
loan money for water projects from the CWCB Severance Tax Perpetual Base Fund for
the benefit of the people of the state, provided that the BORROWER assures repayment
of that money.
Section 37-60-122(1)(b), C.R.S., authorizes the CWCB to make loans of up to
$10,000,000 from the CWCB's State Severance Tax Trust Fund Perpetual Base
Account Fund without prior approval from the General Assembly.
SECTION 4 - BOARD APPROVAL
At its May 2014 meeting, the CWCB approved a Small Project Loan from the
Severance Tax Perpetual Base Fund to the BORROWER in an amount up to $104,130
for PROJECT costs, with a loan service fee of 1 % of the cost of the PROJECT, in
accordance with CWCB Policy No. 16, resulting in a total loan amount of $105,171 for
30 years with no payments and zero interest for the first three years followed by 27
years of amortized payments at the interest rate of 1.75%.
Appendix 1 to Loan Contract C150392
Page 1 of 4