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APPENDIX 1, PROJECT SUMMARY <br /> Loan Contract Number CT2019-3706 <br /> Section 1 —Borrower's Name <br /> The Tunnel Water Company <br /> Section 2—Project Description <br /> A. Description of Project: The Borrower applied to the CWCB for a loan to be used for the West <br /> Half Laramie-Poudre Tunnel Rehabilitation (Project), located in Larimer County, at a total <br /> estimated Project cost of$9,000,000.00. The purpose of this Project is to prevent future tunnel <br /> collapse and blockage by rehabilitating the existing west half of the tunnel with replacement of <br /> the existing support systems. <br /> B. Description of Feasibility Study: Dennis Harmon, General Manager of the Company, with <br /> assistance from Ryan Marsters, P.E., of Lithos Engineering prepared the Loan Feasibility Study <br /> titled, "Feasibility Study West Half of the Laramie-Poudre Tunnel Rehabilitation Project," and <br /> includes an analysis of alternatives, preliminary engineering design, and construction cost <br /> estimates and is incorporated herein by this reference.Based upon the feasibility study,the CWCB <br /> 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 March 20, 2019 meeting the CWCB approved a Project Loan from the Construction Fund, <br /> to the Borrower, in an amount up to $9,000,000.00 for Project Costs. CWCB's Origination Fee of <br /> 1%in the amount of$90,000.00,in accordance with CWCB Policy No. 16,added to the Base Loan <br /> Amount results in a Total Loan Amount of$9,090,000.00, at an interest rate of 2.85%per annum <br /> for a repayment term of thirty(30) years. <br /> Section 5—Schedule of Existing Debt <br /> As of the date of the CWCB loan approval, the Borrower's existing debt consists of the following <br /> CWCB loans. The loans are in good standing: <br /> Lender Original Current Annual Maturity <br /> Balance Balance Payment Date <br /> CWCB <br /> C150052 $1,570,214 $997,263 $98,226 2032 <br /> CWCB <br /> C150065 $1,847,932 $1,165,305 $112,799 2032 <br /> CWCB $1,717,000 $1,717,000 $82,582 <br /> CT2016 20012046 <br /> (In Disbursement (Max Approved) (Max Approved) <br /> Page 1 of 3 <br /> Contract Number:CT2019-3706 <br /> Appendix 1 <br />