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PROJECT SUMMARY - OLIGARCHY IRRIGATION COMPANY <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Oligarchy Irrigation Company, a Colorado nonprofit <br /> corporation <br /> Address: 157 Baylor Way, Longmont, Colorado 80503 <br /> Contact: Dan Grant-Secretary/Treasurer <br /> Phone Number: 303-776-7207 <br /> E-mail address: dan @dangrantbookkeeping.com <br /> Type of Entity: Colorado nonprofit corporation <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan for the <br /> Dam Outlet Works Rehabilitation to rehabilitate the Oligarchy Reservoir No. 1 dam <br /> outlet works by constructing a new outlet works gate vault, outlet works piping, <br /> intake structure, and discharge structure. ("PROJECT"). THE PROJECT located in <br /> Boulder County, hereinafter referred to as the PROJECT, at a total estimated project <br /> cost of$860,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated June 1, 2015, on the PROJECT, entitled "Oligarchy Irrigation Company <br /> Oligarchy Reservoir No. 1 Dam Outlet Works Rehabilitation Feasibility Study" which <br /> was prepared by Glen Church, P.E. and Bryan Black P.E. of Deere and Ault <br /> Consultants with assistance from Nelson Tipton, Company President. The study <br /> includes an analysis of alternatives, a preliminary engineering design, and cost <br /> estimates in accordance with CWCB guidelines, and is incorporated herein by <br /> reference. Based upon the feasibility report, the CWCB determined the PROJECT to <br /> be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 and <br /> 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects from <br /> the CWCB Construction Fund for the benefit of the people of the state, provided that <br /> 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 Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its July 15, 2015 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $781,740 for PROJECT <br /> costs. CWCB's loan origination fee of 1% in the amount of $7,740, in accordance <br /> with CWCB Policy No. 16, added to the LOAN CONTRACT, results in a total loan <br /> amount of $781,740, at an interest rate of 2.40% per annum for a repayment term <br /> of 30 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />