CT2019-366 Contract

• Contract/PO #: CT2019-366
• Contractor Name: Pueblo Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

APPENDIX 1,PROJECT SUMMARY
Loan Contract Number CT2019-366
Section 1 —Borrower's Name
Pueblo Conservancy District
Section 2—Project Description
A. Description of Project: The Borrower applied to the CWCB for a loan to be used for the Arkansas
River and Wildhorse Creek Levees (Project), located in Pueblo County, at a total estimated
project cost of$23 million. The purpose of the Project is to repair the levees within the city of
Pueblo to bring them up to Federal Emergency Management Agency (FEMA) standards to
provide flood protection to the city.
B. Description of Feasibility Study: Rick Kidd, P.E., Kidd Engineering and Construction
Management Services, Inc., prepared the Loan Feasibility Study titled, "Arkansas River and
Wildhorse Creek Levee Rehabilitation and Reconstruction,"dated June 2017. The feasibility study
was prepared in accordance with CWCB guidelines and includes an analysis of alternatives,
preliminary engineering design, and construction cost estimates. Audited Financial statements
were prepared by Garren, Ross & DeNardo, Inc, Certified Public Accountants. Based upon the
feasibility report,the CWCB determined the Project to be technically and financially feasible.
Section 3—CWCB's Authority
This loan is made pursuant to the provisions of§§39-29-109(1)(a)(1), 37-60-119 and 37-60-120,
C.R.S., which authorize the CWCB to loan money for water projects from the CWCB Severance
Tax Perpetual Base 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—Legislative Approval
Pursuant to the 2018 CWCB Projects Bill, the Colorado General Assembly authorized CWCB to
loan the Borrower an amount up to$17,000,000.00 for Project Costs. CWCB's Origination Fee of
1% in the amount of$170,000.00, in accordance with CWCB Policy No. 16, added to the Base
Loan Amount results in a Total Loan Amount of$17,170,000.00, at an interest rate of 2.45%per
annum for a repayment term of 30 years.
Section 5—Schedule of Existing Debt
As of April 30, 2018,the Borrower has outstanding the following obligation.
Original Current Annual Balloon Maturity
Lender Balance Balance Payment Payment Date Collateral
Due Date
2017 Bond -
Bank of the Maintenance Fund
San Juans, a $10,000,000 $3,995,400 $537,500 08/30/2025 08/30/2025 assessment Revenues
division of
Glacier Bank
2018 Bond -
Bank of the Maintenance Fund
San Juans, a $10,000,000 $9,184,382 $537,500 10/30/2025 10/30/2025 Assessment Revenues
division of
Glacier Bank
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Contract Number:CT2019-366
Appendix 1