PROJ00279

• Contract/PO #: C153572
• 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
-4'1- 11f3
THE FOLLOWING RESOLUTION is recommended to the Stock-
holders of The North Poudre Irrigation Company by all Directors
of The North Poudre Irrigation Company.
RESOLUTION:

Whereas it is necessary to repair North Poudre Reser-

voir No. 15 to meet the requirements of the State Engineer and

to protect the water storage decrees for this reservoir and

preserve its value to The North Poudre Irrigation Company; and

Whereas it is necessary to repair The North Poudre

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 been

given initial approval from the Colorado Water Conservation

Board for 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 annum

for a 40-year repayment term and will cost approximately $7.60

per share over the 40-year repayment period; and

Whereas with the cooperation of State Representative

Walter A. Younglund and the Colorado Water Conservation Board,

and subject to North poudre's engineer submitting an acceptable

engineering study to the Colorado Water Conservation Board,