C150160 PIF

• Contract/PO #: C150160
• Contractor Name: Ground Water Management Subdistrict of the Central Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY— CENTRAL COLORADO WCD - CONTRACT No. C150160
SECTION 1 —BORROWER INFORMATION
Borrower Ground Water Management Subdistrict of the Central
Colorado Water Conservancy District
Address: 3209 West 28th Street, Greeley, CO 80634
Contact: Thomas V. Cech, Executive Director
Email: [e-mail]
Phone Number: 303-825-0474 Fax Number: 303-330-4546
Type of Entity: Central Colorado Water Conservancy District was
authorized under the Water Conservancy Act of 1937. The
BORROWER (Ground Water Management Subdistrict) was
formed on April 23, 1973, to provide an augmentation
program for well owners in the area. The BORROWER held
an election on November 5, 2002, whereby voters approved
increasing the BORROWER'S debt by up to $20,000,000 (with
a maximum repayment cost of $39,563,800) to be used for
the purpose of purchasing senior water rights and
constructing gravel pit storage and water recharge facilities,
and increasing taxes up to $1,620,000 annually for
repayment of the debt as shown on the BORROWER'S Official
Ballot and Official Election Results, which are incorporated
herein by reference.
SECTION 2 — PROJECT DESCRIPTION
Description of PROJECT: The BORROWER has operated an augmentation plan in
Adams, Weld and Morgan counties since 1973, and covers an annual depletion of
22,260 acre-feet. The 2001 Colorado Supreme Court decision concerning Empire
Lodge (Case 00-SA-211) now makes it necessary for the BORROWER to acquire
additional senior water rights and build more storage and water recharge facilities to
augment out-of-priority diversion. The BORROWER was authorized under the Water
Conservancy Act of 1937 and has the power to acquire-water Jghts, construct and
operate facilities, levy taxes, and issue debt subject to the provisions of TABOR. The
BORROWER applied for a $5,000,000 loan to purchase ~senior Water rights and
construct gravel pit storage and water recharge facilities to provide increased
augmentation water supplies for its members (PROJECT). The estimated total cost of
the PROJECT is $22,850,000.
Description of Feasibility Study: The CWCB has reviewed a feasibility study report on
the PROJECT entitled "Feasibility Study for Acquisition of Water Rights and Water
Storage", compiled by the Ground Water Management Subdistrict of the Central
Colorado Water Conservancy District, which is incorporated herein by reference, and,
based upon the feasibility report, the CWCB determined the PROJECT to be technically
Appendix 1 to Loan Contract C150160