PROJ00060

• Contract/PO #: C153721
• Contractor Name: Lyons, Town of
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: SB 96-153
• Loan Projects - Doc Type: Feasibility Study

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STATE OF COLORADO

Colorado Water Conservation Board
DepartIl1ent of Naroral Resources

121 Sw" CcDleDcia1 BuildU>g
1313 She:c:n:2..nStrec.t
Deny.,-. Colondo 802(;3
Pbo~e(303)&6~3<41
FAX [phone]

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Dir-....aor. ClV'CB

M:EMORM.'DUM

TO: Colorado Water CODSelValion Board Members

FROM: John Van Sciver

DATE: January 9, 1996

SUBJECT: Agenda Item 10d., Janllar)' 24-25, 1996, Board Meeting-
The Town of LyoIl.'i
Final Approval of a Construction Fund Loan in amount of $230,500 to
.rehabilitate the Town's Raw Water Intake Structure.

BACKGROUND

The Town of LyoIl.'i (located in Boulder County), submitted an application for a loan to
rehabilitate the Town's raw water intake strUcmre. They aR requesting a loan in the amount,
of $280,500 (75% of the estimated total project cost of $374,000).
. .

The eweB approved the loan November 7, 1995, but requested further information on the
collateral.

The updated Board memo from the November meeting is.att2ched, as well as the November 22,
1995 letter sent to the Town by Bill Stanton.

DISCUSSTON

(a) Collateral:

The Town's Amendment #1 ballot question was passed by its residents November 7, 1995. 'This
will enable the Town to contract for a loan with the CWCB. and to offer the stream of water
enterprise revenues as collateral. (A copy of ballot Re;olution No. 1995-9 is attached.)

The Town has additional collateral which could be used to secure the loan. In summary, the
project, CBT shares, and the Town's wcttT ueatlD.ent plant are available. Howcver, to comply