PROJ00100

• Contract/PO #: C153496
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Feasibility Study

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RES 0 L UTI 0 N

THE FOLLOWING RESOLUTION is recommended to the Stock-

holder.s of The North Poudre Irrigation Company by all Directors

of The North Poudre Irrigation Company.

RESOLUTION:

Whereas it is necessary to repair Nort~ Poudre Reser

vo~r No. !5 to meet the requirements of the State Engi~eer an~

to .?rotect the water storage decrees for this reservoir an'

'J:':"''oserve its value to The North Poudre Irrigation Company; af'd

Whereas it is necessary to repair The North Poudn'

Reservoir known as Clark Lake and North Poudre Reservoir No. 2

to meet the requirements of the State Engineer and to protect

the water storage decrees for these reservoirs and preserve

their value to The North poudre Irrigation Company; and

Whereas The North Poudre Irrigation Company has ~o~r

"'. .,en initial approval from the Colorado Water Conservatiun

Board fo" a loan of approximately $1,300,000 or 50% of the cost

of repairs, whichever is less, for North poudre Reservoir No.

15, and this loan will'be at an interest rate of 5% per annu~

for a 40-year repayment term and will cost approximately $~.60

n~' ~hare over the 40-Y'3ar rep<"vment ppriod; ana

."he.rea:.; with th, cooperation of St.dte Represe. tative

Wa.~er A. ~ou-a'und and the Colorado WdL"r Conservation Boar~.

a- subject to Yorth Poudre's engineer submitting an accepta~le

engineering study to t'. Colorado Water Conservation Board,