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Oligarchy Irrigation Company Agenda Item 11a <br /> July 15-16, 2015 Board Meeting(Updated July 17, 2015) <br /> Page 2 of 5 <br /> Background <br /> The Company serves approximately 2,700 irrigated acres in Boulder and Weld Counties north of <br /> Longmont. The Oligarchy No. 1 Reservoir and Dam, also known as Burch Lake, is classified as a <br /> Significant Hazard Dam by the State Engineers Office (SEO). The reservoir is offstream, and is filled via <br /> the Palmerton Ditch, which diverts from St. Vrain Creek near Lyons, Colorado. The Oligarchy Reservoir <br /> No.1 releases its water into the Oligarchy ditch, which extends easterly approximately 15 miles. <br /> Oligarchy Ditch water is used by the Oligarchy Irrigation Company shareholders for agricultural uses and <br /> irrigation of municipal parks and schools. <br /> The dam embankment is approximately 18 feet high with a crest width of approximately 12 feet and <br /> upstream and downstream slopes of approximately 2.5 to 1. The reservoir's outlet works system <br /> original construction dates back to 1910, having been adjudicated in 1890 for 1,080 acre-ft. Subsequent <br /> enlargements were made in 1907 and 1926. The reservoir currently stores approximately 1,737 acre- <br /> feet of water at the normal high, or operating, water line. <br /> A dam maintenance and concurrent inspection performed by the SEO in August 20, 2012 by John Batka, <br /> P.E included a request regarding the outlet works system condition as follows: "That given the <br /> undesirable condition of having a pressurized conduit through the embankment, difficult access for <br /> inspection and difficult operation of the valve, the condition of the outlet structure is rated poor. The <br /> company (Oligarchy Irrigation Company) is strongly encouraged to construct a new outlet structure <br /> that will allow upstream control of the conduit."The Company seeks to update the entire outlet <br /> system with a reconstructed new outlet pipe and an upstream control gate. <br /> Loan Feasibility Study <br /> Glen Church, P.E. and Bryan Black, P.E. of Deere and Ault Consultants prepared the Loan Feasibility <br /> Study titled "Oligarchy Irrigation Company Oligarchy Reservoir No. 1 Dam Outlet Works Rehabilitation <br /> Feasibility Study", dated June 1, 2015, with assistance from Nelson Tipton, Company president. The <br /> study includes an analysis of alternatives, a preliminary engineering design, and cost estimates, in <br /> accordance with CWCB guidelines. <br /> Borrower Oligarchy Irrigation Company <br /> The Company is a Colorado non-profit mutual ditch company that was incorporated in 1891. The <br /> Company's office is located in Longmont. It is in good standing with the Colorado Secretary of State. <br /> The Company has 90 shareholders and has issued 300 shares of stock. The Company's revenues are <br /> primarily derived from assessments charged on shares of stock owned by the stockholders, carriage <br /> agreements, and recreational leases. <br /> The Company's by-laws authorize the Board of Directors to borrow money and to provide for the <br /> payment of the same by assessment of its members. The Board has the authority to take measures to <br /> enforce assessments, including the suspension of water deliveries and the eventual sale or forfeiture of <br /> shares for failure to pay assessments. <br />