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DNR COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> Denver,CO 80203 <br /> CO Colorado Water Mike King, DNR Executive Director <br /> Conservation Board P(303)866-3441 <br /> Department of Natural Resources F(303)866-4474 James Eklund, CWCB Director <br /> TO: Colorado Water Conservation Board Members <br /> FROM: Derek Johnson, P.E., Project Manager D(LI <br /> Kirk Russell, P.E., Finance Section Chief aA?"--- <br /> DATE: July 15-16, 2015 Board Meeting (Updated July 17, 2015) <br /> AGENDA ITEM: 11a. Water Project Loan <br /> Oligarchy Irrigation Company- Dam Outlet Works Rehabilitation <br /> Introduction <br /> The Oligarchy Irrigation Company (Company) is applying for a loan for the construction of the Dam <br /> Outlet Works Rehabilitation (Project). The purpose of the Project is to rehabilitate the Oligarchy <br /> Reservoir No.1 dam outlet works by constructing a new outlet works gate vault, outlet works piping, <br /> intake structure, and discharge structure. The total Project cost is estimated at $860,000. The <br /> Company is requesting a loan to cover 90% of the Project cost. See the attached Project Data Sheet for <br /> a location map and project summary. <br /> Staff Recommendation (Board Approved Staff Recommendation on July 15, 2015) <br /> Staff recommends the Board approve a loan not to exceed $781,740 ($774,000 for Project costs and <br /> $7,740 for the 1% Loan Service Fee) to the Oligarchy Irrigation Company for costs associated with <br /> design and construction of the Dam Outlet Works Rehabilitation Project from the Construction Fund. <br /> Loan terms shall be 30 years at a blended interest rate of 2.40% per annum. Security for the loan shall <br /> be in compliance with CWCB Financial Policy#5. <br /> CpIOis <br /> Et O <br /> Interstate Compact Compliance•Watershed Protection • Flood Planning 8 Mitigation • Stream <br /> Et Lake Protection ye; o <br /> Water Project Loans Grants •Water Modeling • Conservation a Drought Planning•Water Supply Planning q <br /> �**�*, <br /> *J876 / <br />