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APPENDIX 1, PROJECT SUMMARY <br /> Loan Contract Number CT2019-648 <br /> Section 1 —Borrower's Name <br /> City of Walsenburg, 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 City <br /> Lake Dam Rehabilitation & Enlargement (Project), located in Huerfano County, at a total <br /> estimated project cost of$6,821,000.00. The purpose of the Project is to rehabilitate and enlarge <br /> the City Lake Dam. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report, on the <br /> Project, dated March 2017, titled "Feasibility Evaluation-Walsenburg City Lake Dam <br /> Rehabilitation and Enlargement which was prepared by Michael Graber, P.E., of RJH <br /> Consultants, and is incorporated herein by this reference. Based upon the feasibility report, the <br /> CWCB determined the Project to be technically and financially feasible. <br /> Section 3—CWCB's Authority <br /> Severance Tax Perpetual Base Fund: This loan is made pursuant to the provisions of§§ 39-29- <br /> 109(1)(a)(1), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for <br /> water projects from the CWCB Severance Tax Perpetual Base Fund for the benefit of the people <br /> of the state, provided that the Borrower assures 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 Severance Tax Perpetual Base Fund without prior approval from the General <br /> Assembly. <br /> Section 4 - Board Approval <br /> At its July, 2017 meeting the CWCB approved a Project Loan from the Severance Tax Perpetual <br /> Base Fund, to the Borrower, in an amount up to $6,821,000.00 for Project Costs. CWCB's Loan <br /> Origination Fee of 1% in the amount of$68,210.00, in accordance with CWCB Policy No. 16, <br /> added to the Base Loan Amount results in a Total Loan Amount of$6,889,210.00, at an interest <br /> rate of 2.0%per annum for a repayment term of 30 years. <br /> Section 5—Schedule of Existing Debt <br /> The Borrower has outstanding the following obligation, which constitutes Existing Parity Debt <br /> under the Contract, and will require a Parity Certificate: <br /> Original Current Monthly Maturity <br /> Lender Collateral <br /> Balance Balance Payment Date <br /> Series 2017 Water and Sewer <br /> Revenue $8,045,000.00 $7,791,549.27 $54,726.25 December 1,2031 Revenue <br /> Refunding Refunding <br /> Bonds Bonds <br /> Appendix 1 <br /> Page 1 of 4 <br /> Contract Number:CT2019-648 <br />