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Project Summary — Platte Valley Irrigation Company <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Platte Valley Irrigation Company <br /> Type of Entity: A Colorado nonprofit corporation <br /> Address: 3005 West 29th Street, Suite G1, Greeley, Colorado 80631 <br /> Contact: Kevin Schmidt, President <br /> Phone Number: 970-353-6121 <br /> E-mail address: pvicditchoffice @gwestofFice.net <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 Sand Hill Lake Outlet Works Rehabilitation Project ("PROJECT") to <br /> rehabilitate the Sand Hill Lake Outlet and to repair the dam section damaged from a <br /> sink hole that has developed. The PROJECT located in Weld County, hereinafter <br /> referred to as the PROJECT, at a total estimated project cost of$820,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated September 2014, on the PROJECT, titled "Feasibility of Rehabilitation of the <br /> Outlet Works at Sand Hill Lake,"which was prepared by Donna Coble, with <br /> assistance from Cort Nickel, P.E. of Frachetti Engineering, Inc., and is incorporated <br /> herein by this reference. Based upon the feasibility report, the CWCB determined <br /> the PROJECT to be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Severance Tax Perpetual Base Fund: This loan is made pursuant to the <br /> 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 <br /> Tax Trust Fund Perpetual Base Account 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 the Severance Perpetual Base Fund without prior <br /> approval from the General Assembly. <br /> SECTION 4 - BOARD APPROVAL At its November 20, 2014 meeting the CWCB approved a <br /> Small Project Loan, from the Severance Perpetual Base Fund to the BORROWER, in an <br /> amount up to $738,000 for PROJECT costs. CWCB's loan origination fee of 1%, in <br /> accordance with CWCB Policy No. 16, of$7,380 added to the LOAN CONTRACT results in a <br /> total loan amount of$745,380, at an interest rate of 2.0% per annum for a repayment term <br /> of 30 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />