C150319 PIF Doccuments - Laserfiche WebLink

Home Browse Search

. • • Project Summary — Fisher Ditch Company — Contract No. C150319 SECTION 1 —BORROWER INFORMATION Name: Fisher Ditch Company Address: 1800 Larimer Street, Suite I 30 qgr ✓ , ',s 0202 Contact: Richard Belt, President Phone Number: 303-294-2198 I E-mail address: Richard.l.belt @xcelenergy.com Type of Entity: a Colorado nonprofit corporation Section 2 — Project Description A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used for the construction of the Ditch Infrastructure Improvements Project, located in Denver County, hereinafter referred to as the PROJECT, at an estimated total cost of$500,000. B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report on the PROJECT entitled "Feasibility Study — Fisher Ditch Various Infrastructure Improvements", dated June 2011, compiled by Richard Belt, P.E., Amy Willhite, Larry Fiore and Gene Brienza, which is incorporated herein by reference, and, based upon the feasibility report, the CWCB determined the PROJECT to be technically and financially feasible. SECTION 3—CWCB's AUTHORITY Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from the CWCB Construction Fund for the benefit of the people of the state, provided that the borrower assures repayment of that money. Small Project Loan:This loan is made pursuant to the provisions of§§ 37-60-119 and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects 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 Construction Fund and the State Severance Tax Trust Fund Perpetual Base Account Fund without prior approval from the General Assembly. SECTION 4-BOARD APPROVAL At its July 2011 meeting, the CWCB approved a Small Project Loan from the Construction Fund to the BORROWER in an amount up to $454,500 for PROJECT costs, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in accordance with CWCB Policy No. 16, at an interest rate of 5.95% per annum for a repayment term of 30 years. SECTION 5—SCHEDULE OF EXISTING DEBT Appendix 1 to Loan Contract C150319 Page 1 of 4