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<br />STATE ct COLORI\DO <br />8 <br /> <br />2 <br /> <br />. <br /> <br />" <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1 31 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (03) 866-3441 <br />fAX: (303) 866-4474 <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />The City of Fort Morgan File <br /> <br />FROM: <br /> <br />Bill Green <br /> <br />DATE: <br /> <br />Revised August 10, 1998 <br /> <br />RE: <br /> <br />Collateral Evaluation <br /> <br />Background <br /> <br />The Board has approved (recommended) two loans to the City of Fort Morgan for the <br />City's participation in the Southern Water Supply Project (SWSP) of the Northern <br />Colorado Water Conservancy District (NCWCD). A Construction Fund loan for $5.5 <br />million was authorized in SB 94-29 (conditional) with final approval by the Board in <br />March 1995. A loan of$8.0 million from the Construction Fund and the Severance Tax <br />Trust Fund was authorized in HB 98-1189. Total CWCB lending to the City for this <br />project then amounts to $13.5 million. <br /> <br />The City has participated in the SWSP through three allotment contracts with the <br />NCWCD as outlined in the following table: <br /> <br />Segment Cost Miles of Capacity <br /> ($ million) Pipeline (cubic ft. per <br /> second) <br />Carter Lake to north of Longmont 2.5 9 9.5 <br />Longmont to vicinity of Platteville 5.5 29 9.5 <br />Platteville to Fort Morgan 13.5 42 14.5 <br />Totals 21.5 80 N/A <br /> <br />Value of Collateral <br /> <br />The collateral for the first ($5.5 million) loan is a security interest in the City's portion of <br />capacity in the SWSP pipeline from Carter Lake to the eastern terminus ofthe Fort <br /> <br />Roy Romer <br />CovernQI <br /> <br />James S. Lochheild <br />Executive Director, DNR <br /> <br />DariesC. Ule, RE. <br />Director, eWeB <br />