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Project Summary — Orchard Ranch Ditch Company <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Orchard Ranch Ditch Company <br /> Type of Entity: Colorado nonprofit corporation <br /> Address: 20490 North Road, Eckert, Colorado, 81418 <br /> Contact: Paul Kehmeier, Vice President <br /> Phone Number: 970-779-0723 <br /> E-mail address: Paul-Kehmeier@msn.com <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used for the Orchard Ranch Ditch Piping (PROJECT), located in Delta County, at a <br /> total estimated project cost of $1,430,720. The purpose of the PROJECT is to <br /> replace the existing conveyance system with an in-place piped system to meet the <br /> standards of the US Bureau of Reclamation Colorado River Basin Salinity Control <br /> Program. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated November 2015 on the PROJECT, titled "Feasibility of Piping the Orchard <br /> Ranch Ditch", which was prepared by Paul Kehmeier, Vice President, Orchard <br /> Ranch Ditch Company, with technical assistance from Brian Deeter, P.E. of J-U-B <br /> Engineers, Inc. and is incorporated herein by this reference. Based upon the <br /> feasibility report, the CWCB determined the PROJECT to be technically and <br /> financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Severance Tax Perpetual Base Fund: This loan is made pursuant to the <br /> provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which <br /> authorize the CWCB to loan money for water projects from the CWCB Severance <br /> Tax Perpetual Base 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 <br /> $10,000,000 from the CWCB's Severance Tax Perpetual Base Fund without prior <br /> approval from the General Assembly. <br /> SECTION 4 - BOARD APPROVAL <br /> At its January 26, 2016 meeting the CWCB approved a Small Project Loan, from <br /> the Construction Fund to the BORROWER, in an amount up to $150,000 for PROJECT <br /> Costs. CWCB's loan origination fee of 1% in the amount of $1,500, in accordance <br /> with CWCB Policy No. 16, added to the LOAN CONTRACT results in a Total Loan <br /> Amount of $151,500, at an interest rate of 1.95% per annum for a repayment term <br /> of 30 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />