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PROJECT SUMMARY <br /> Section 1 — Borrower Information <br /> Name: Town of Monument, Colorado, acting by and through the Town <br /> of Monument, Colorado, Water Enterprise <br /> Address: P.O. Box 325, 166 2nd Street, Monument, CO 80132 <br /> Contact: Rick Sonnenburg, Town Manager <br /> Phone Number: 719-481-2954 <br /> Section 2 — Project Information <br /> Description of Project: The Project is the rehabilitation of Monument Lake Dam, <br /> and involves rehabilitation of the spillway, the outlet works and the dam <br /> embankment. The bottom of the lake will be dredged to remove about 150,000 <br /> cubic yards of sediment to increase the reservoir capacity to approximately 450 <br /> acre-feet. <br /> Description of Feasibility Study: A feasibility study was prepared by Boyle <br /> Engineering of Lakewood, Colorado. The study analyzed several alternatives for <br /> the repair work. <br /> Section 3 — Board Approval and Legislative Authorization <br /> A. At its January 24, 2001 meeting, the CWCB approved a loan to the BORROWER in <br /> an amount up to $2,081,000, at an interest rate of 5.5% per annum for a <br /> repayment term of 30 years. <br /> B. Pursuant to Senate Bill 01-157, Section 2(1)(a), the Colorado General Assembly <br /> authorized CWCB to loan to the BORROWER an amount up to $2,081,000 <br /> ("AUTHORIZED LOAN AMOUNT") for the PROJECT. <br /> Section 4 — Schedule of Existing Debt <br /> No existing debt <br /> Section 5 — Collateral <br /> Part of the security provided for this loan, as evidenced by the executed Security <br /> Agreement attached as Appendix 4 and incorporate" h :er sib ate- bei an <br /> undivided one hundred percent (100%) interest in pledge syslerm <br /> revenues as set forth in the Security Agreement. <br /> Section 6 - Construction Fund Program Procedures. <br /> a. The BORROWER shall employ an engineer, registered in the State of Colorado, <br /> hereinafter referred to as the CONSULTANT, to prepare plans and specifications for <br /> the PROJECT. <br /> b. The agreement between the BORROWER and the CONSULTANT and the plans and <br /> specifications must be submitted to the CWCB staff for verification of compliance <br /> with the terms of this contract prior to bid opening. Any modifications to the plans <br /> and specifications must be approved in writing by the CWCB staff. <br /> Appendix 1 to Loan Contract C150062 <br />