Laserfiche WebLink
<br />PROJECT SUMMARY - RIO GRANDE AND PIEDRA VALLEY DITCH CO. <br />CONTRACT No. C150155 <br /> <br />SECTION 1 -BORROWER INFORMATION <br /> <br />Name: <br /> <br />FederallD Number: <br /> <br />Contact: <br />Address: <br /> <br />Phone Number: <br /> <br />The Rio Grande and Piedra Valley Ditch Company <br /> <br />84-0304037 <br /> <br />Mike. McNeil, President <br />270 County Road 14A <br />Del Norte, Colorado 81132 <br />719-852-2923(W), 791-852-2923 (H) <br /> <br />Email: mcneilch@fone.net <br /> <br />Type of Entity: Colorado nonprofit corporation <br /> <br />SECTION 2 - PROJECT DESCRIPTION <br />Description of PROJECT: The BORROWER operates the Rio Grande and Piedra Valley Ditch <br />to supply water to 31 shareholders for irrigation within the 7,660-acre service area in Rio <br />Grande County, The BORROWER applied for a loan in the amount of $52,000 to replace <br />13 wooden check structures on the ditch system (PROJECT) at a total estimated cost of <br />$69,333. <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on the <br />PROJECT prepared by William M. McNeil of the Rio Grande and Piedra Valley Ditch <br />Company and Laurie A. Clark, P,E., of the NRCS, entitled Feasibility of Reconstruction of <br />the Rio Grande and Piedra Valley Ditch Co. Check Structures, dated July 2003, which is <br />incorporated herein by reference, and, based upon the feasibility report, the CWCB <br />determined the PROJECT to be technically and financially feasible. <br />SECTION 3 - CWCB's AUTHORITY <br />Small Proiect Loan: This loan is made pursuant to the provisions of Sections 37-60-119 <br />and 37-60-120, C.R.S" which authorizes the CWCB to loan moneyforwater projects for the <br />benefit of the people of the State, provided that the borrower assures repayment of that <br />money. <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to $5,000,000 <br />from the CWCB's Construction Fund and the State Severance Tax Trust Fund Perpetual <br />Base Account Fund without prior approval from the General Assembly, <br />SECTION 4 . BOARD APPROVAL <br />At its September 2003 meeting, the CWCB approved a Small Project Loan from the <br />Construction Fund to the BORROWER in an amount up to $52,000 for PROJECT costs plus <br />$520 for the 1 % loan service charge for a total loan amount of $52,520, with repayment <br />terms of 2.50% per annum for 30 years. <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br />No existing debt. <br /> <br />Appendix 1 to Loan Contract C150155 <br />