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<br />Conclusions <br /> <br />1. The Julesburg Irrigation District was formed in accordance with CRS 37-41-101 and has the <br />ability to enter into a contract with the CWCB for the purpose of obtaining a Construction <br />Fund loan. <br /> <br />2. Rights-of Way easements are adequate for the construction of this project. <br /> <br />3. The project would provide for the continued delivery of irrigation water to the service area. <br /> <br />4. The total estimated cost of the project is $145,000, which will be financed by a $100,000 <br />CWCB loan, an $11,000 grant from the NRCS for engineering services, and by $34,000 <br />from District reserves. <br /> <br />5. The Julesburg Irrigation District is eligible for a CWCB Small Project Loan because the loan <br />amount is less than $100,000, and because the project is necessary to avoid undue <br />hardship on the borrower. Requiring the JID to apply through the standard CWCB loan <br />process would delay the project one-year, and jeopardize the Company's ability to deliver <br />water to its shareholders. <br /> <br />Opinion of Feasibility <br /> <br />The project appears to be technically and financially feasible. <br /> <br />Julesburg Irrigation District <br />Peterson - Lodgepole Control Structures <br />November 2000 (Updated January 2001) <br /> <br />Page 14 of14 <br />