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• • <br /> Project Summary — Platte Valley Irrigation Company — Contract No. <br /> C150235 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Platte Valley Irrigation Company <br /> Address: 1135 8th Avenue, Suite B, Greeley, CO 80632 <br /> Federal Identification No.: 84-0403445 <br /> Contact: Donna Coble, Secretary <br /> 40:410imik <br /> Phone Number: 970-353-1292 <br /> E-mail address: southard @info2000.net <br /> Type of Entity: a Colorado nonprofit corporation <br /> Section 2 — Project Description .4"741 <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used for the construction of the Platte Valley Reservoir No. 1 and to add <br /> measurement and control devices on the Company's main ditch, located in Weld <br /> County, hereinafter referred to as the PROJECT, at an estimated total cost of <br /> $2,365,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> on the PROJECT entitled "Feasibility Study for Platte Valley Reservoir No. 1," dated <br /> October 2006, compiled by Smith Geotechnical, which is incorporated herein by <br /> reference, and, based upon the feasibility report, the CWCB determined the <br /> PROJECT to be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to <br /> the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which <br /> authorize the CWCB to loan money for water projects from the CWCB Severance Tax <br /> Trust Fund Perpetual Base Account for the benefit of the people of the state, provided <br /> that 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 /> $5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br /> Fund Perpetual Base Account Fund without prior approval from the General Assembly <br /> SECTION 4 -BOARD APPROVAL <br /> At its November 13, 2006 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $2,365,000 for PROJECT costs, not <br /> to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1°/0 in accordance <br /> with CWCB Policy No. 16, at an interest rate of 2.25% per annum for a repayment term of <br /> 20 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> No existing debt. <br /> Appendix 1 to Loan Contract C150235 <br /> Page 1 of 3 <br />