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Project Summary - The North Poudre Irrigation Company <br /> Loan Contract No. cT2015-3641 <br /> SECTION 1-BORROWER INFORMATION <br /> Name: The North Poudre Irrigation Company <br /> Type of Entity: A Colorado nonprofit corporation <br /> Address: 3729 Cleveland Ave., Wellington, CO 80549 <br /> Contact: Tad Moen <br /> Phone Number: 970-568-3612 <br /> E-mail address: tmoen@npicwater.com <br /> SECTION 2-PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used <br /> for the Mountain Supply Reservoir No. 10 Repairs ("PROJECT") to restore full functions <br /> to the reservoir by performing repairs to the inlet piping, grading within the reservoir, <br /> and repairing the outlet works intake structure and conduit. The total estimated <br /> Project Cost is$495,000.00 and is located in Larimer County. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report, <br /> on the PROJECT, dated January 2017, titled "Feasibility of North Poudre Irrigation <br /> Company Mountain Supply Reservoir No. io Repairs", which was prepared by Tara <br /> Schutter, P.E. of Tessara Water, LLC, and is incorporated herein by this reference. <br /> Based upon the feasibility report, the CWCB determined the PROJECT to be technically <br /> and financially feasible. <br /> SECTION 3-CWCB's AUTHORITY <br /> Severance Tax Perpetual Base Fund:This loan is made pursuant to the provisions of <br /> §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to <br /> loan money for water projects from the CWCB Severance Tax Perpetual Base Fund for <br /> the benefit of the people of the state, provided that the BORROWER assures repayment <br /> of that money. <br /> Section 37-6o-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br /> $10,000,000 from the CWCB's the Severance Tax Perpetual Base Fund without prior <br /> approval from the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its March 23, 2017 meeting the CWCB approved a Project Loan from the Severance <br /> Tax Perpetual Base Fund to the BORROWER, in an amount up to $495,000.00 for <br /> PROTECT Costs. CWCB's LOAN ORIGINATION FEE of 1%in the amount of$4,950.0o, in <br /> accordance with CWCB Policy No. 16, added to the BASE LOAN AMouNT results in a <br /> TOTAL LOAN AMOUNT of$499,95o.00, at an interest rate of 2.5o%per annum for a <br /> repayment term of thirty (3o)years. <br /> Appendix 1 <br /> Page 1of5 <br />