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PROJECT SUMMARY <br /> LOWER ARKANSAS VALLEY WATER CONSERVANCY DISTRICT,ACTING BY AND THROUGH ITS <br /> WATER ACTIVITY ENTERPRISE,A TITLE 37 WATER CONSERVANCY DISTRICT <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Lower Arkansas Valley Water Conservancy District, acting by <br /> and through its Water Activity Enterprise <br /> Type of Entity: A Title 37 Water Conservancy District <br /> Address: 801 Swink Avenue, Rocky Ford, Colorado, 81067 <br /> Contact: Jay Winner <br /> Phone Number: 719-254-5115 <br /> E-mail address: jwinner @centurytel.net <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used for <br /> the Water Rights Purchase ("PROJECT")to increase the reliability of District water to satisfy <br /> existing needs including compact compliance, augmentation water replacement for Rule <br /> 10 and Rule 14 plans, lease and fallowing replacement water, and provide additional <br /> assurance against current shortages due to drought conditions and growing municipal <br /> demand. The total estimated project cost is $4,077,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated <br /> March 2015 on the PROJECT, titled "Lower Arkansas Valley Water Conservancy District- <br /> Repurposing of Water Supply,"which was prepared by Elise M. Bergsten of Balanced <br /> Management Services in accordance with CWCB guidelines and includes the District's <br /> "Appraisal of Colorado Canal Water Rights" and is incorporated herein by this reference. <br /> Based upon the feasibility report, the CWCB determined the PROJECT to be technically <br /> and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Severance Tax Perpetual Base Fund:This loan is made pursuant to the provisions of§§ 39- <br /> 29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money <br /> for water projects from the CWCB Severance Tax Perpetual Base Fund for the benefit of the <br /> people of the 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 $10,000,000 <br /> from the CWCB's Severance Tax Perpetual Base Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its May 21, 2015 meeting the CWCB approved a Small Project Loan, from the Severance Tax <br /> Perpetual Base Fund to the BORROWER, in an amount up to $2,535,000 for PROJECT costs. <br /> CWCB's loan origination fee of 1%, in accordance with CWCB Policy No. 16, of $25,350 and <br /> added to the LOAN CONTRACT, results in a total loan amount of $2,560,350, at an interest rate of <br /> 1.45% per annum for a repayment term of 20 years. <br /> Appendix 1 <br /> Page 1 of 3 <br />