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PROJECT SUMMARY <br /> LOAN CONTRACT NUMBER CT2018-1335 <br /> SECTION 1-BORROWER INFORMATION <br /> Name: Church Ditch Water Authority <br /> Type of Entity: A Water Authority under Colorado Statute <br /> Address: 14025 W. 82nd Ave.,Arvada, CO 80005 <br /> Contact: Nathan McCoy, General Manager <br /> Phone Number: 303-423-6010 <br /> E-mail address: nmccoy@churchditch.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 Ditch System Improvements (PROJECT), located in Jefferson County, at a total <br /> estimated project cost of$3,580,00o.00. The purpose of the PROJECT is to make needed <br /> repairs to the Church Ditch system in order to improve operational efficiency and reduce <br /> maintenance requirements. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report, <br /> on the PROJECT, dated June 1, 2017 titled "Church Ditch Water Authority 2017-2019 <br /> Capital Improvement Projects: Leyden Flushing Structure, Headgate 53 Retaining Wall, <br /> Area 15 Ditch Lining, Ford Street Siphon, Legacy Farms Culvert,"which was prepared <br /> by James Koehler, P.E., with ERC and is incorporated herein by this reference. Based <br /> upon the feasibility report, the CWCB determined the PROJECT to be technically and <br /> financially feasible. <br /> SECTION 3-CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§37-60-11g and <br /> 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects from <br /> the CWCB Construction Fund for the benefit of the people of the state, provided that <br /> the BORROWER assures repayment 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 Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its July, 2017 meeting the CWCB approved a Project Loan from the Construction <br /> Fund, to the BORROWER, in an amount up to $3,580,000.00 for PROTECT Costs. CWCB's <br /> LOAN ORIGINATION FEE of i%in the amount of$35,800.00 in accordance with CWCB <br /> Policy No. 16, added to the BASE LOAN AMOUNT results in a TOTAL LOAN AMOUNT of <br /> $3,615,800.00, at an interest rate of 3.o%per annum for a repayment term of thirty <br /> (30) years. <br /> Appendix <br /> Page 1 of 4 <br />