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CT2015-090 Contract
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CT2015-090 Contract
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Last modified
2/17/2017 3:28:57 PM
Creation date
10/10/2014 10:51:04 AM
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Loan Projects
Contract/PO #
CT2015-090
C150402
Contractor Name
Ephraim Ditch Company
Contract Type
Loan
Water District
22
County
Rio Grande
Loan Projects - Doc Type
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. S <br /> Project Summary — Ephraim Ditch Company <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Ephraim Ditch Company <br /> Type of Entity: a Colorado nonprofit corporation <br /> Address: 18353 State Hwy 136, Sanford, CO, 81151 <br /> Contact: Warren Crowther, President <br /> Phone Number: 719-274-5807 <br /> E-mail address: w_crowther@hotmail.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 Ephraim Diversion and Headgate Rehabilitation Project <br /> (PROJECT).ThiS PROJECT is one of three projects collectively known as the Conejos <br /> River System Confluence Management Project (CMP). This PROJECT will replace <br /> the existing diversion structures and headgates and add measurement structures <br /> to the Ephraim Ditch located in Rio Grande County, hereinafter referred to as the <br /> PROJECT, at a total estimated project cost of$201,500. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br /> report dated November 22, 2013 on the PROJECT, titled "Feasibility Study for <br /> Rehabilitation of the Ephraim Core & Diversion at the Conejos River <br /> Confluence,"which was prepared by the District and Transforma Research & <br /> Design, LLC., with support from the Natural Resources Conservation Service <br /> (NRCS) and is incorporated herein by reference. Based upon the feasibility report, <br /> 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 <br /> projects from the CWCB Construction Fund for the benefit of the people of the <br /> state, 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 22, 2014 meeting the CWCB approved a Small Project Loan, from the <br /> Construction Fund to the BORROWER, in an amount up to $100,000 for PROJECT <br /> costs, with a loan service fee of 1% in accordance with CWCB Policy No. 16, <br /> resulting in a loan service fee of$1,000 and a total loan amount of$101,000 at an <br /> interest rate of 1.75% per annum for a repayment term of 30 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />
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