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PROJECT SUMMARY -TOWN OF WIGGINS, <br /> ACTING BY AND THROUGH THE WATER ACTIVITY ENTERPRISE <br /> LOAN CONTRACT No. CT2018-892 <br /> SECTION 1 -BORROWER INFORMATION <br /> NAME: TOWN OF WIGGINS,ACTING BY AND THROUGH THE WATER <br /> ACTIVITY ENTERPRISE <br /> ADDRESS: 304 CENTRAL AVE.,WIGGINS, COLORADO 80654 <br /> CONTACT: PAUL LARINO <br /> PHONE NUMBER: 97o-483-6161 <br /> E-MAIL ADDRESS: larino@wigginsco.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 Wiggins Recharge Facility at Glassey Farms ("PROJECT") to reduce the town's <br /> reliance on leased water and shore up its water supply for current and future demands <br /> by developing an augmentation water source through the purchase of Glassey Farm <br /> and associated water rights and developing recharge ponds at Glassey Farm <br /> (PROJECT) located in Morgan County, at a total estimated project cost of <br /> $2,385,000.00. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report, <br /> on the PROJECT, dated February 1, 2017 titled "Feasibility of the Wiggins Recharge <br /> Facility at the Glassey Farm", which was prepared by Paul Larino, MPA, Town <br /> Manager, and is incorporated herein by this reference. The study relies on the PER <br /> prepared by Diamondback Engineering & Surveying, dated April 2016. Feasibility <br /> level water resources engineering and cost estimates were performed by Andrew <br /> Case, P.E., of Leonard Rice Engineers. Water right legal analysis has been provided <br /> by Rick Fendel of Petrock and Fendel, P.C. Audited financial statements were <br /> provided by Holscher, Mayberry & Company, LLC. Based upon the feasibility report, <br /> the CWCB determined the PROJECT to be technically 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)(l), 37-60-119 and 37-60-12o, 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 Severance Tax Perpetual Base Fund without prior <br /> approval from the General Assembly. <br /> Appendix i <br /> Page 1 of 6 <br />