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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 pinelineportion 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 delay before <br /> Rural Development could formally commit to any level of funding,their 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 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 lengthy descrijption in regard 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 />