C153748 Feasibility Study

• Contract/PO #: C153748
• Contractor Name: Excelsior Irrigating Company
• Contract Type: Loan
• Water District: 14
• County: Pueblo
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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FINANCIAL PLAN

Sources of funding for the project consist of a loan from the
Colorado Water Conservation Board in the amount of $330,000 and
private financing by the sponsor.

OM&R costs for the project are estimated to be $5,000 per
year.

COLLATERAL

The Excelsior Ditch Company has the following collateral it
can offer for the CWCB loan, in this order of preference.:

1. The project itself. The project will be owned by the
Excelsior Ditch Company and can be offered by vote of the Board of
Directors. .

2. A portion of the revenues from the Excelsior Ditch Project.
The project will generate income from the crops grown on the
project lands. A portion of that income can be pledged to
repayment of the loan.

3. Revenue generated by leasing a part op the Excelsior
Ditch water to Arkansas Groundwater Users Association.

INSTITUTIONAL CONSIDERATIONS

The loan from the CWCB is contingent upon the successful
negotiation of a contract between the CWCB and the sponsor.

OPINION OF FEASIBILITY

The' selected alternative is technically and financially
feasible. There are no significant roadblocks which would keep the
Excelsior Ditch Company from successfully completing this project.

One important favorable situation is the winter storage season
on the Arkansas River, running from November 15th to March 15th
each year. During this time the river call is 1910, placing the
Excelsior in priority for the full time, thus allo~ing a recharge
program to function throughout this 120 day period.

signatures of those who assisted in the preparation of this report:

Excelsior Ditch Company
Secretary Treasurer

Date

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