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• <br /> Project Summary— Center of Colorado Water Conservancy District — <br /> Contract No. C150276 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Center of Colorado Water Conservancy District <br /> Address: P.O. Box 1747, Fairplay, CO 80440-1747 <br /> Contact: Daniel J. Drucker <br /> Phone Number: 303-838-0302 <br /> E-mail address: djd @mailstation.com <br /> Type of Entity: The District is a water conservancy district formed <br /> pursuant to and governed by Article 45, Title 37, C.R.S. <br /> and located in Park County. The BORROWER held an <br /> election on November 4, 2008, whereby voters <br /> approved increasing the BORROWER'S debt by up to <br /> $500,000 to be used for the purpose of constructing the <br /> James Tingle Reservoir, as shown on the BORROWER'S <br /> Official Ballot and Official Election Results, which are <br /> incorporated herein by reference. <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 construction of the James Tingle Reservoir, located in Park County, <br /> hereinafter referred to as the PROJECT, at an estimated total cost of$3,565,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br /> report on the PROJECT compiled by James W. Culichia of Felt, Monson, Culichia, <br /> LLC, which is incorporated herein by reference, and, based upon the feasibility <br /> report, the CWCB determined the PROJECT to be technically and financially <br /> feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Severance Tax Trust Fund Perpetual Base Account This loan is made pursuant to <br /> the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37120, C.R.S., which <br /> authorize the CWCB to loan money for water projects from the CWCB Severance Tax <br /> Trust Fund Perpetual Base Account for the benefit of the people of the state, provided <br /> that the borrower assures repayment of that money. <br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB - loans of up to <br /> $10,000,000 from the CWCB's Construction Fund and th- r4. a Tax Trust <br /> Fund Perpetual Base Account Fund without p '• appr• - = '• General <br /> Assembly <br /> SECTION 4-BOARD APPROVAL AND LEGISLATIVE AUT • - N • <br /> -+111, a <br /> At its November 2008 meeting, the CWCB approved a loan from the - - : ax Trust <br /> Fund Perpetual Base Account to the BORROWER in an amount up to$454,500 for PROJECT <br /> cots, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in <br /> Appendix 1 to Loan Contract C150276 <br /> Page 1 of 4 <br />