CT2018-980 Contract

• Contract/PO #: CT2018-980
• Contractor Name: Corsentino Dairy Farm
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY- CORSENTINO DAIRY FARMS
LOAN CONTRACT NUMBER CT2017-98o
SECTION I -BORROWER INFORMATION
Name: Corsentino dairy Farms, Inc.
Type of Entity: A Colorado corporation
Address: 2689 State Hwy Io, Walsenburg, Colorado 81o89
Contact: Brett Corsentino
Phone Number: 719-568-0429
E-mail address: [e-mail]
SECTION 2-PROJECT DESCRIPTION
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used
for the Holita Dam Rehabilitation (PROJECT), located in Huerfano County, at a total
estimated project cost of$94,000.00. The purpose of the PROJECT is to repair Holita
Dam which is under a storage restriction from the SEO. Repairs will include
embankment seepage, rodent holes, inadequate freeboard and permanent lowering
of the spillway.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report,
on the PROJECT, dated May 31, 2017 titled "Feasibility of Repairing Mr. Brett Corsentino's
Holita Dam, DAMID 160214"which was prepared by Nicholas Koch, P.E. and Walter
Bland, Engineering technician, agricultural engineers out of La Junta. Supplemental
information came from an appraisal by Kirby Harper dated November 7, 2015.
Financial information was provided by Brenda Scott, Corsentino Dairy Farms
Bookkeeper, all are incorporated herein by this reference. Based upon the feasibility
report, the CWCB determined the PROJECT to be technically and financially feasible.
SECTION 3-CWCB'S AUTHORITY
Severance Tax Perpetual Base Fund:This loan is made pursuant to the provisions of
§§ 39-29-109(1)(a)(1), 37-6o-119 and 37-60-I20, C.R.S., which authorize the CWCB to
loan money for water projects from the CWCB Severance Tax Perpetual Base Fund for
the benefit of the people of the state, provided that the BORROWER assures repayment
of that money.
Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$Io,000,000 from the CWCB's Severance Tax Perpetual Base Fund without prior
approval from the General Assembly.
SECTION 4.- BOARD APPROVAL
At its July, 2017 meeting the CWCB approved a Project Loan from the Severance Tax
Perpetual Base Fund, to the BORROWER, in an amount up to $84,600.00 for PROTECT
Costs. CWCB's LOAN ORIGINATION FEE of 1%in the amount of 846.00, in accordance
with CWCB Policy No. 16, added to the BASE LOAN AMOUNT results in a TOTAL LOAN
AMOUNT of$85,446.00, at an interest rate of 0.5%per annum for a repayment term of
Appendix i
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