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Project Summary— St. Vrain and Left Hand Water Conservancy District-acting by <br /> and through its Water Activity Enterprise <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: St. Vrain and Water Conservancy District, acting by and <br /> through its Water Activity Enterprise <br /> Type of Entity: A Colorado Title 37 Water Conservancy District <br /> Address: 9595 Nelson Road, Longmont, CO 80501 <br /> Contact: Sean Cronin <br /> Phone Number: 303-772-4060 <br /> E-mail address: sean.cronin@svlhwcd.org <br /> SECTION 2—PROJECT DESCRIPTION <br /> Description of PROJECT: The BORROWER applied to the CWCB for a loan for the <br /> Emergency Rock'n WP Ranch Lake No. 4 Repair Project to repair the lake damage, due <br /> to the 2013 flood event, allowing it to resume its use as a water augmentation reservoir by <br /> the DISTRICT. <br /> Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated <br /> December 2, 2013 on the PROJECT, titled "Emergency Loan Application and Feasibility <br /> Study,"which was prepared by Sean Cronin, Executive Director of the District with <br /> assistance from Mark McLean, P.E. of Deere and Ault Consultants, and is incorporated <br /> herein by reference. Based upon the feasibility report, the CWCB determined the <br /> 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 provisions of <br /> §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to <br /> loan money for water projects from the Severance Tax Perpetual Base Fund for the <br /> benefit of the people of the state, provided that the BORROWER assures repayment of that <br /> 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 Severance Tax Perpetual Base Fund without prior approval from <br /> the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its July 17, 2014 meeting the CWCB approved a Small Project Loan, from the <br /> Severance Tax Perpetual Base Fund to the BORROWER, in an amount up to $4,500,000 <br /> for PROJECT costs with a loan service fee of 1% in accordance with CWCB Policy No. 16 <br /> resulting in a loan service fee of $45,000 and a total loan amount of $4,545,000 for 30 <br /> years with no payments and zero interest for the first three years followed by 27 years of <br /> amortized payments at the interest rate of 3.20%. <br /> Appendix 1 <br /> Page 1 of 4 <br />