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CWCB Construction Fund Loan Application <br />water supply, other state agencies have indicated that with respect to the actual <br />acquisition of the water rights, they could not participate as it would be in conflict with <br />CWCB's mission. <br />CDPHE acting as the agent for Colorado Water Resources and Power Development <br />Authority's Revolving Fund also indicated that the pipeline portion of the project would <br />not be eligible under their guidelines unless it could be directly related to water Quality <br />related issues or some other need within the system other than the underlying water <br />supply. Thus eliminated the Revolving Fund from consideration for financial assistance. <br />USDA's loan approval authority must now be made at the national level as it does not <br />currently have Colorado loan approval authority. Their process also involves substantial <br />more documentation and oversight on the part of Rural Development. Given the time <br />line established for the project and the likelihood of a significant front end delU before <br />Rural Development could formally commit to any level of fundin , their heir participation at <br />this time was not deemed justifiable. <br />The Colorado Division of Local Governments will be approached with an application for <br />their December 1, 2006 funding cycle for $500,000 of grant assistance in implementing <br />the overall project. Local cash reserves will be used in conjunction with the DOLA <br />contribution to provide the necessary match for the CWCB loan. The District has <br />determined that the utilization of the CWCB loan proceeds in conjunction with two <br />additional funding sources represents the most feasible and prudent approach to <br />implementing the he project in a timely manner. <br />4. What collateral will you be offering for this loan? Possibilities include a pledge of revenues, the <br />project itself, real estate, water rights. <br />See Section 7 of the attached report for a lenizthv description in reward to this issue. The <br />District is pledging revenues from its operations together with ad valorem tax revenues <br />generated from a voter authorized 3.000 mill levy assessment. As additional collateral, <br />the District is also pledging the well field and interconnecting pipeline constructed within <br />the project together with the water rights secured within the project. <br />