C150164 Paid in Full Contract

• Contract/PO #: C150164
• Contractor Name: Colorado River Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Project Summary - Colorado River WCD - Contract No. C150164
SECTION 1 —BORROWER INFORMATION
Name: Colorado River Water Conservation District
Address: P. O. Box 1120, Glenwood Springs, CO, 81602
Federal Identification No.: 84-6000156 �.
Contact: Dan Birch, Project Development Manager=
Phone Number: 970-871-1529
E-mail address: [e-mail]
Type of Entity: The District is a water conservation district formed
pursuant to and governed by Article 45, Title 37, C.R.S.
and located in Garfield County. The District's Colorado
River Water Projects Enterprise is a water activity
enterprise under Article 45.1, Title 37, C.R.S.,
established by the District by resolutions adopted on
July 16, 1985, October 19, 1999, and October 17, 2000,
which resolutions are incorporated herein by reference.
The Enterprise was formed and is operated as an
enterprise within the meaning of CoLo. CONST. Art. X,
Section 20.
SECTION 2 — PROJECT DESCRIPTION
Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used
for raising the height of the existing dam on Elkhead Reservoir by 24 feet,
hereinafter referred to as the PROJECT, located in Moffat and Routt Counties, at an
estimated total cost of $19,500,000.
Description of Feasibility Study: The CWCB has reviewed the feasibility study titled
"Elkhead Reservoir Enlargement Feasibility Report" which is incorporated herein by
reference, and, based upon the feasibility report, the CWCB determined the PROJECT
to be technically and financially feasible.
SECTION 3 — CWCB's AUTHORITY
Severance Tax Trust Fund Perpetual Base Account: This loan is made pursuant to
the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.
SECTION 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED)
At its November 2003 meeting, the CWCB approved a Loan from the Severance Tax
Trust Fund Perpetual Base Account to the BORROWER in an amount up to $11,000,000 for
PROJECT Costs plus $110,000 for the 1% loan service charge for a total loan amount of
$11,110,000, with repayment terms of 3.75% per annum for 14 years.
Pursuant to House Bill 2004-1221, Section 2.a, the Colorado General Assembly
authorized CWCB to loan to the BORROWER an amount up to $11,110,000 for the
PROJECT.
Appendix 1 to Loan Contract C150164