16c ‎(2)‎

• Board Meeting Date: 7/22/2008
• Description: CF Section - New Project Loans - San Luis Valley Water Conservancy District - Water Rights Acquisition
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
Bill Ritter, Jr.
Governor
TO: Colorado Water Conservation Board Members
Harris D. Sherman
DNR Executive Director
FROM: Anna Mauss, PE
Jennifer L. Gimbel
Mike Serlet, PE, Chief
CWCB Director
Water Supply Planning & Finance Section
Dan McAuliffe
CWCB Deputy Director
DATE: July 15, 2008
Agenda Item 16c, July 22-23, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
San Luis Valley Water Conservancy District – Water Rights Acquisition
Introduction
The San Luis Valley Water Conservancy District (Distr ict) is requesting a loan to acquire wa ter rights
in the Pine River Weminuche Pass Ditch, near Creede, Colorado, for the District’s Augmentation
Program. See attach ed Project Data Sheet for a lo cation map and a project summary.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $727,200 ($720,000 for project costs and
$7,200 for the 1% Loan Service Fee) to the San Lu is Valley Water Conservancy District – Water
Activity Enterprise for the Water Rights Acquisi tion Project from the Severance Tax Trust Fund
Perpetual Base Account. The terms of the loan sha ll be a 30-year loan at 3.5% per annum. Security
for the loan shall be in compliance with CWCB Financial Policy #5.
Staff further recommends the addition of the following condition in the CWCB Loan Contract:
San Luis Valley Water Conservancy District shall have a lease agreement in-place for
storage of the water acquired th rough this loan purchase prior to disbursement of funds from
the CWCB.
Water Supply Protection • Watershed Protection & Flood Mitigatio n • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • In trastate Water Management & Development