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Project Summary— The Las Animas Consolidated Canal Company <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: The Las Animas Consolidated Canal Company <br /> Type of Entity: Colorado nonprofit corporation <br /> Address: 1800 Larimer Street, Suite 1300, Denver, Colorado 80202 <br /> Contact: Richard Belt <br /> Phone Number: 303-294-2198 <br /> E-mail address: richard.l.belt @xcelenergy.com <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 Repair and Replacement of Canal Spillway Structure ("PROJECT") <br /> which includes the improved reconstruction of the Spillway Structure that was <br /> damaged by storm surge flows. The PROJECT located in Bent County, has a total <br /> estimated project cost of$400,200. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br /> report dated September 2014, on the PROJECT, titled "Repair and Replacement of <br /> the Las Animas Consolidated Canal Spillway,"which was prepared by Richard <br /> Belt, P.E., Senior Water Resources Analyst at Xcel Energy 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 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 $360,180 for PROJECT costs. CWCB's loan origination fee of 1%, in <br /> accordance with CWCB Policy No. 16, of $3,602 added to the LOAN CONTRACT results in <br /> a total loan amount of$363,782, at an interest rate of 5.05% per annum for a repayment <br /> term of 30 Y ears. <br /> Appendix 1 <br /> Page 1 of 4 <br />