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Project Summary — City of Grand Junction, <br /> acting by and through its Water Activity Enterprise <br /> SECTION 1 -BORROWER INFORMATION <br /> Name: City of Grand Junction, acting by and through its Water <br /> Activity Enterprise <br /> Type of Entity: Water Activity Enterprise <br /> Address: 333 West Ave., Building E, Grand Junction, CO 81501 <br /> Contact: Rick Brinkman <br /> Phone Number: 970-244-1429 <br /> E-mail address: rickbt@gjcity.org <br /> SECTION 2-PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan be <br /> used for the Hallenbeck Reservoir No. 1 Dam Rehabilitation (PROJECT), Iodated <br /> in Mesa County, at a total estimated project cost of $1,153,800. The purpose of <br /> the PROJECT is to repair the dam and restore the full storage capacity of the <br /> reservoir. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated January 2016 on the PROJECT, titled "Loan Feasibility Study for Hallenbeck <br /> Reservoir No. 1 Dam Failure Mitigation Project" which was prepared by Bret <br /> Guillory P.E., Utility Engineer, City of Grand Junction, and is incorporated herein <br /> by this 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 /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 <br /> and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water <br /> projects from the CWCB Construction Fund for the benefit of the people of the <br /> state, provided that the BORROWER assures repayment of that money. <br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of pp to <br /> $10,000,000 from CWCB's Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4- BOARD APPROVAL <br /> At its March, 2016 meeting the CWCB approved a Small Project Loan, from the <br /> Construction Fund to the BORROWER, in an amount up to $1,000,000 for PROJECT <br /> Costs. CWCB's loan origination fee of 1% in the amount of$10,000, in accordance <br /> with CWCB Policy No. 16, added to the LOAN CONTRACT results in a Total Loan <br /> Amount of$1,010,000, at an interest rate of 2.65% per annum for a repayment <br /> term of 20 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />