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PROJECT SUMMARY— EAST MESA WATER COMPANY <br /> CONTRACT No. C150360 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: East Mesa Water Company, a Colorado nonprofit corporation <br /> Address: 1664 Prince Creek Road, Carbondale, Colorado 81623 <br /> Contact: Marty Nieslanik <br /> Phone Number: 970-948-3587 <br /> E-mail address: nieslanikbeef @gmail.com <br /> Type of Entity: Colorado nonprofit corporation <br /> Section 2 — Project Description <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used to install a high density polyethylene pipe in the existing ditch and rehabilitate <br /> the existing tunnel ("PROJECT"), to remove the threat of tunnel collapse and insure <br /> the delivery of irrigation water to its ranching shareholders. The PROJECT is located <br /> the Crystal River Valley in the northern portion of Pitkin County and the southern <br /> portion of Garfield County, Colorado. The estimated PROJECT cost is $550,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated May 1, 2013 on the PROJECT. The feasibility study, titled "Feasibility of Piping <br /> a Section of the East Mesa Water Company" prepared by Dennis Davidson. The <br /> study includes a preliminary engineering design and construction cost estimates <br /> prepared by Mike Kishimoto, NRCS, Garfield County Office and is incorporated <br /> herein by reference. The study was prepared in accordance with the CWCB <br /> guidelines. Based upon the feasibility report, the CWCB determined the PROJECT to <br /> be technically and financially feasible. <br /> C. SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 and <br /> 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from <br /> the CWCB Construction Fund for the benefit of the people of the state, provided that <br /> 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 and the State Severance Tax Trust <br /> Fund Perpetual Base Account Fund without prior approval from the General <br /> Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its July 2013 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $550,000 for PROJECT costs, <br /> with $5,500 for the loan origination fee of 1% of the cost of the PROJECT, in accordance <br /> with CWCB Policy No. 16, resulting in a total loan amount of $555,500 at an interest <br /> rate of 1.75% per annum for a repayment term of 30 years. <br /> Appendix 1 to Loan Contract C150360 <br /> Page 1 of 4 <br />