C150360 Amend 1

• Contract/PO #: C150360 CT2015-141
• Contractor Name: East Mesa Water Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY— EAST MESA WATER COMPANY
CONTRACT No. C150360
SECTION 1 —BORROWER INFORMATION
Name: East Mesa Water Company, a Colorado nonprofit corporation
Address: 1664 Prince Creek Road, Carbondale, Colorado 81623
Contact: Marty Nieslanik
Phone Number: 970-948-3587
E-mail address: [e-mail]
Type of Entity: Colorado nonprofit corporation
Section 2 — Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used to install a high density polyethylene pipe in the existing ditch and rehabilitate
the existing tunnel ("PROJECT"), to remove the threat of tunnel collapse and insure
the delivery of irrigation water to its ranching shareholders. The PROJECT is located
the Crystal River Valley in the northern portion of Pitkin County and the southern
portion of Garfield County, Colorado. The estimated PROJECT cost is $550,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
dated May 1, 2013 on the PROJECT. The feasibility study, titled "Feasibility of Piping
a Section of the East Mesa Water Company" prepared by Dennis Davidson. The
study includes a preliminary engineering design and construction cost estimates
prepared by Mike Kishimoto, NRCS, Garfield County Office and is incorporated
herein by reference. The study was prepared in accordance with the CWCB
guidelines. Based upon the feasibility report, the CWCB determined the PROJECT to
be technically and financially feasible.
C. SECTION 3 — CWCB'S AUTHORITY
Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 and
37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from
the CWCB Construction 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
$10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Assembly.
SECTION 4 - BOARD APPROVAL
At its July 2013 meeting, the CWCB approved a Small Project Loan from the
Construction Fund to the BORROWER in an amount up to $550,000 for PROJECT costs,
with $5,500 for the loan origination fee of 1 % of the cost of the PROJECT, in accordance
with CWCB Policy No. 16, resulting in a total loan amount of $555,500 at an interest
rate of 1.75% per annum for a repayment term of 30 years.
Appendix 1 to Loan Contract C150360
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