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<br />Aristocrat Ranchette Water project, Inc. <br />Peasibility Study <br /> <br />12 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />G. Institutional Consideration~. <br /> <br />1. Northern Colorado Water Con~ervancy District (NCWCD). <br />Aristocrat Ranchette Subdivision is presently included in the <br />Northern District. Petitions fo~ inclusion were circulated and <br />90% of the petitions have been e~ecuted by residents. The notice <br />of inclusion is in Appendix H. ~he project could not proceed <br />until inclusion was complete. The rules for share transfer in <br />the NCWCD are also included in Appendix H. <br /> <br />2. Central Weld County Water District. An agreement has been <br />proposed by Central Weld for the delivery of treated water, in <br />the form of a letter of intent. The agreement has not yet been <br />signed by either party. The agr~ement stipulates that inclusion <br />into Northern and funding of the project be complete before <br />construction of the project may begin. See Appendix I. <br /> <br />3. Rural Economic Community Development (RECD). An application <br />has been submitted to RECD by ARWP, and a commitment letter has <br />been received. RECD has indicat~d that the possibility of <br />funding is contingent on the CWCB loan to purchase the water <br />shares. See Appendix F. <br /> <br />4. Vote of Shareholders. ARWP held a vote of the shareholders <br />February 2/ 1996. The questions offered were: <br /> <br />a. Shall ARWP enter into a Contract with Central for <br />the delivery of treated water to the residents of <br />Aristocrat? <br /> <br />b. Shall ARWP enter into bridge financing through <br />First Security Bank of Fort Lupton to cover costs <br />incurred until receipt of loan funds, which financing <br />will be paid with a po~tion of the loan funds? <br /> <br />c. Shall ARWP enter into a loan with RECD for the <br />construction of the pipeline to Aristocrat, in the <br />approximate amount of $1.6 million dollars? <br /> <br />d. Shall ARWP enter into a loan with CWCB for the <br />purchase of raw water Ghares from the Colorado-Big <br />Thompson Project and the Windy Gap Project, in the <br />approximate amount of $600,000.00? <br /> <br />e. Shall the raw water shares p~rchased with the <br />proceeds of the CWCB loan, and/or any future shares <br />purchased be used as collateral for the loan? <br /> <br />A "No" vote to any of the above questions will halt the project <br />indefinitely. <br /> <br />- <br />