CT2018-2851 Contract

• Contractor Name: Central Colorado Water Conservancy District, Well Augmentation Subdistrict ‎(WAS)‎
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

APPENDIX 1, PROJECT SUMMARY
Loan Contract Number CT2018-2851
Section 1—Borrower's Name
Central Colorado Water Conservancy District,Well Augmentation Subdistrict
Section 2—Project Description
A. Description of Project: The Borrower applied to the CWCB for a loan to be used for the Shores
Lakes Pond C Infrastructure Improvement(Project),located in Weld County,at a total estimated
project cost of$3,430,000.00. The purpose of the Project is to increase the efficiency by which
the Shores Lakes can capture and release water for augmentation use.
B. Description of Feasibility Study: Ed Armbruster, P.E., with White Sands Water Engineers, Inc.,
prepared the Loan Feasibility Study titled, "CWCB Loan Feasibility Study, Shores Lakes
Infrastructure Improvement Project,"dated September 15,2017.The feasibility study was prepared
in accordance with CWCB guidelines and includes an alternative analysis and construction costs
estimates. Audited financial statements of WAS were provided by Anton Collins Mitchell, LLP.
Based upon the feasibility report, the CWCB determined the Project to be technically and
financially feasible.
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 authorizes 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 without prior approval from the General Assembly.
Section 4-Board Approval
At its January 22,2018 meeting the CWCB approved a Project Loan from the Construction Fund,
to the Borrower, in an amount up to$2,344,000.00 for Project Costs. CWCB's Origination Fee of
1%in the amount of$23,440.00,in accordance with CWCB Policy No. 16,added to the Base Loan
Amount results in a Total Loan Amount of$2,367,440.00, at an interest rate of 1.65%per annum
for a repayment term of 30 years.
Section 5—Schedule of Existing Debt
As of the date of the CWCB loan approval,the Borrower's existing debt consists of the following CWCB
loans. Both loans are in good standing.
Loan No. Original Bal Current Bal Annual Payment Maturity Date Collateral
C150194 $14,934,612 $12,367,163 $713,541 2040 Pledge of taxrevenues
CT2015-060 $1,651,905 $1,651,905 $71,246 2047 Pledge of tax revenues
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Contract Number:CT2018-2851