BOARD01243

• Board Meeting Date: 1/12/1998
• Description: CF Section - Contract Processing Status Report
• Board Meetings - Doc Type: Memo

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CONTRACTS IN PROCESS. The status of nine contracts-in-process for $1.50 million is listed
below and on the attached report:

1. Agricultural Ditch Company, $300,000 loan to rehabilitate the Welch Ditch system. The
contract, executed by the Borrower, was transmitted to the Controller on January 6th for
final approval.

2. Arkansas Groundwater Users Association, a $650,000 loan out of the Arkansas River
Augmentation Account for the purchase of water rights was approved by the Board at its
September 1997 meeting. The Attorney General's Office started drafting the contract
documents on January 20th.

3. Colorado River Water Conservancy District, Amendment #2 to decrease the final loan
amount from $20,000,000 to $16,255,724.12 and to adjust the security interest by (1)
obtaining a security agreement to secure the District's pledge of lease revenues used to
repay the CWCB loan in the event of default, (2) limiting CWCB's access to the annual
lease revenues to one loan payment, approximately $1.5M, and (3) including a reserve
debt service fund in the amount of $1.5M as part of the pledged security. Contract
documents for signature provided to the District on October 2nd.

4. Colorado Water Protective & Development Association, a feasibility study loan in the
amount of $75,000 approved by the Board at its November 1993 meeting. The contract
documents are being drafted by the Attorney General's Office.

5. Excelsior Irrigating Company, a loan in the amount of $230,000 to rehab the company's
ditch. Documents were provided to the Borrower for signature on January 20th. .

6. Town of Fort Lupton, an amendment to correct the town's amortization schedule. The
Attorney General's Office started drafting the contract documents on November 1't.

7. Town of Fort Morgan, an amendment to allow the Town's bonds to have parity with our
loan as approved by the Board at its July 1997 meeting. Draft amendment submitted to
the Town for review on December 20th.

8. Town of Hudson, an amendment to correct the town's amortization schedule.
Amendment documents being drafted since November 1st.

9. South Platte Lower River Group, a $240,000 grant to finance the Tamarack Project on
the South Platte River. The draft contract documents were sent to the Group for review
on November 4th.

PROJECTS AWAITING CONTRACTING. A list of 42 projects and amendments valued at $24.02
million that are awaiting contracting is shown on the attached Contract Status Report.

STAFF RECOMMENDATION. This memo is for information purposes. Please let me know if you
have any questions or concerns regarding the contracting status.

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