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PROJECT SUMMARY —LAKE HENRY— CONTRACT NO. C150098 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: The Lake Henry Reservoir Company <br /> Address: P. O. Box 8 <br /> Ordway, CO 81063 <br /> Contact: Allen Ringle, Manager <br /> Phone Number: 719-267-4411 Fax Number: 719-267-4074 <br /> Email aringle@centurytel.net <br /> Type of Entity: Colorado nonprofit corporation <br /> SECTION 2 — PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER operates the 9,500 acre-foot Lake Henry <br /> Reservoir in Crowley County for the benefit of its 12 shareholders by providing <br /> storage of water for a variety of beneficial uses including water for irrigation within <br /> a 551-acre service area. The dam needs to be rehabilitated by construction of toe <br /> drains and an emergency spillway in accordance with State Engineer safety <br /> standards at an estimated total cost of $653,000. <br /> B. Description of Feasibility Study: The CWCB assisted in the preparation of a <br /> feasibility study report entitled Feasibility Study — Rehabilitation of the Lake Henry <br /> Dam on the PROJECT compiled with assistance from URS Corporation Engineers, <br /> which is incorporated herein by reference, and has reviewed said report. Based <br /> upon the report, the CWCB determined the PROJECT to be technically and financially <br /> feasible. <br /> SECTION 3 — CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 and <br /> 37-60-120, C.R.S., which authorize 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 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED) <br /> A. At its November 2001, meeting, the CWCB approved a loan to the BORROWER in an <br /> amount up to $490,000, not to exceed 75% of the cost of the PROJECT, at an <br /> interest rate of 4.25% per annum for a repayment term of 30 years. <br /> B. Pursuant to HB02-1152, Section 1(X), the Colorado General Assembly authorized <br /> CWCB to loan to the BORROWER an amount up to $490,000 for the PROJECT. <br /> SECTION 5 — SCHEDULE OF EXISTING DEBT <br /> No existing debt <br /> Appendix 1 to Loan Contract C150098 <br />