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Project Summary — Lookout Mountain Water District, acting by and <br /> through its Water Activity Enterprise <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Lookout Mountain Water District, acting by and through its Water <br /> Activity Enterprise <br /> Type of Entity: a Colorado Title 32 Special District <br /> Address: 1202 Bergen Parkway, Suite 200, Evergreen, CO 80439 <br /> Contact: Christina Shea <br /> Phone Number: 303-526-2025 <br /> E-mail address: CSBIS@MSN.COM <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used for <br /> the construction of the Upper Beaver Brook Dam Spillway, located in Clear Creek <br /> County, hereinafter referred to as the PROJECT, at an estimated PROJECT COST of <br /> $3,410,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated <br /> September 2015 on the PROJECT, titled "Feasibility of Upper Beaver Brook Dam Spillway <br /> Improvement Project,"which was prepared by Chad M. Masching, P.E., of GEI <br /> Consultants, Inc. and is incorporated herein by this reference. Based upon the feasibility <br /> report, the CWCB determined the PROJECT to 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 the <br /> CWCB Construction Fund for the benefit of the people of the state, provided that the <br /> 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 $10,000,000 <br /> from the CWCB's Construction Fund without prior approval from the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its November 18, 2015 meeting the CWCB approved a Small Project Loan, from the <br /> Construction Fund to the BORROWER, in an amount up to $3,069,000 for PROJECT costs. <br /> CWCB's loan origination fee of 1%, in accordance with CWCB Policy No. 16, of $30,690 and <br /> added to the LOAN CONTRACT, results in a total loan amount of$3,099,690, at an interest rate <br /> of 3.25% per annum for a repayment term of 30 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> The BORROWER has an existing loan with the Colorado Water Conservation Board, Contract <br /> #C153598, in the original amount of $600,000, with annual payments of $39,031 with an <br /> interest rate of 5% per annum and a term of 30 years. The loan has an estimated maturity <br /> date of 2022 and is in good standing. <br /> Appendix 1 <br /> Page 1 of 4 <br />