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APPENDIX 1, PROJECT SUMMARY
<br /> Loan Contract Number CT2018-2028
<br /> Section 1 —Borrower's Name
<br /> Left Hand Water District,acting by and through the water activity enterprise
<br /> Section 2—Project Description
<br /> A. Description of Project: The Borrower applied to the CWCB for a loan to be used for the
<br /> Participation in Southern Water Supply Project II,located in Boulder and Larimer Counties. The
<br /> District's total estimated participation cost is $10,735,000.00. The purpose of the Project is to
<br /> Fund the District's portion of the construction costs for the Southern Water Supply Project
<br /> (SWSP) II. Borrower will enter into an Allotment Contract with the Northern Colorado Water
<br /> Conservancy District(NCWCD)for construction,operation and management of the Project.
<br /> B. Description of Feasibility Study: Christopher Smith,P.E.,General Manager of Left Hand Water
<br /> District, prepared the Loan Feasibility Study titled, "Feasibility Study for Left Hand Water
<br /> District's Participation in Northern Colorado Water Conservancy District South Water Supply
<br /> Project II," dated August 2017,which is incorporated herein by this reference. Based upon the
<br /> feasibility report,the CWCB determined the Project to be technically and financially feasible.
<br /> Section 3—CWCB's Authority
<br /> Construction Fund:This loan is made pursuant to the provisions of§§37-60-119 and 37-60-120,
<br /> C.R.S., which authorizes the CWCB to loan money for water projects from the CWCB
<br /> Construction Fund for the benefit of the people of the state, provided that the Borrower assures
<br /> repayment of that money.
<br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to$10,000,000 from
<br /> the CWCB's Construction Fund without prior approval from the General Assembly.
<br /> Section 4-Board Approval
<br /> At its September 20, 2017 meeting the CWCB approved a Loan from the Construction Fund,to
<br /> the Borrower,in an amount up to$9,900,990.10 for Project Costs.CWCB's Origination Fee of 1%
<br /> in the amount of$99,009 .90, in accordance with CWCB Policy No. 16, added to the Base Loan
<br /> Amount results in a Total Loan Amount of$10,000,000.00,at an interest rate of 2.75%per annum
<br /> for a repayment term of 20 years.
<br /> Section 5—Schedule of Existing Debt
<br /> As of the date of the CWCB loan approval,the Borrower has outstanding the following obligations,
<br /> which constitute Existing Parity Loans under the Contract and will require a Parity Certificate:
<br /> Original Current Annual Maturity Collateral
<br /> Balance Balance Payment Date
<br /> 1999 CWRPDA— $6,625,000 $892,697 $455,409 May 2019 District's net
<br /> DWRF revenues
<br /> 2014 CWRPDA- $29,900,336 $25,810,345 $1,824,237 Aug 2034 District's net
<br /> DWRF revenues
<br /> TOTAL $26,703,042 $2,279,646
<br /> The BORROWER will provide to the CWCB a Parity Certificate, from an independent certified
<br /> public accountant, certifying that based on an analysis of the BORROWER'S revenues, for 12
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<br /> Contract Number:CT2018-2028
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