C153514 Feasibility Study

• Contract/PO #: C153514
• Contractor Name: Farmers Water Development Company
• Contract Type: Loan
• Water District: 60
• County: San Miguel
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Feasibility Study

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FARMERS WATER DEVELOPMENT COMPANY
P.O. BOX 10
NORWOOD, COLORADO 81423

President
Roy M. Davis
[phone]

Secretary
Dona E. Cornforth
[phone]

RESOLUTION

The Board of Directors of the Farmers Water Development Company
(FWDC), as representatives of the FWDC shareholders, hereby submit this
resolution to the Colorado Water Conservation Board (CWCB) as an
integral part of the Gurley Reservoir Feasibility Report.

Whereas the Board of Directors of the FWDC are familiar with the
condition of Gurley Reservoir and understand the need for repairs; and

Whereas the FWDC has contracted with Steffen Robertson and Kirsten
(Colorado) Inc. to perform the feasibility study and prepare a
feasibility report for $85,000.00; and

Whereas the total estimated project cost, including the
feasibility study and report is $835,000.00; and

Whereas the FWDC will contribute $75,000.00 of which $25,000.00
was dedicated to completion of the feasibility study and the remaining
$50,000.00 is dedicated to completion of the repair work; and

Whereas a loan from the CWCB has been requested in the amount of
$760,000.00, of which $60,000.00 was dedicated to completion of the
feasibility study and the remaining $700,000.00 is dedicated to
completion of the repair work; and

Whereas the loan repayment period is to be 40 years.