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Project Summary — Farmers Pawnee Canal Company <br /> Contract No. C150394 <br /> SECTION 1 -BORROWER INFORMATION <br /> Name: Farmers Pawnee Canal Company <br /> Type of Entity: A Colorado nonprofit corporation <br /> Address: 18123 County Road 34, Sterling, Colorado 88751 <br /> Contact: Larry Kloberdanz, Secretary/Treasurer <br /> Phone Number: 970-522-3703 <br /> E-mail address: lar_klo@yahoo.com <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used for the Diversion Structure Replacement Project to repair flood damage and <br /> address ongoing maintenance issues. The PROJECT, at a total estimated project <br /> cost of $2,047,000, hereinafter referred to as the PROJECT, is located in Logan <br /> County. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated March 15, 2014 on the PROJECT, titled "Feasibility Study for the Farmers <br /> Pawnee Canal Company Diversion Structure Replacement Project" which was <br /> prepared by John Gauthiere, P.E. of Gauthiere Engineering, Inc., Greeley, <br /> Colorado. The study includes preliminary engineering and an engineer's estimate of <br /> probable cost and is incorporated herein by reference. Based upon the feasibility <br /> report, the CWCB determined the PROJECT to be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 <br /> and 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects <br /> from the CWCB Construction Fund for the benefit of the people of the state, <br /> provided 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 /> $10,000,000 from the CWCB's Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its May 2014 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $2,047,000 for PROJECT <br /> costs, with a loan service fee of 1% of the cost of the PROJECT, in accordance with <br /> CWCB Policy No. 16, resulting in a total loan amount of$2,067,470 for 30 years at <br /> the interest rate of 1.75%. <br /> Appendix 1 to Loan Contract C150394 <br /> Page 1 of 4 <br />