26f

• Board Meeting Date: 11/19/2008
• Description: CF Section - New Project Loans - Boulder White Rock Ditch and Reservoir Company - Panama Reservoir Outlet
• 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: November 10, 2008
Agenda Item 26f, November 18-19, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
Boulder White Rock Ditch and Reser voir Company – Panama Reservoir Outlet
Introduction
The Boulder White Rock Di tch and Reservoir Company (Company) is applying for a $2,406, 000 loan
to install a pump station as part of the Panama Reservoir Outlet Project (Project). The Project cost
estimate is $2,673,000. This loan request is for 90% of the estima ted Project cost. See attached Project
Data Sheet.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $2,430,060 ($2,406,000 for project costs
and $24,060 for the 1% Loan Service Fee) to th e Boulder White Rock Ditch and Reservoir
Company for the Panama Reservoi r Outlet Project from the Severance Tax Trust Fund Perpetual
Base Account. The loan terms shall be 30 years at a blended interest rate of 3.45% per annum.
Security for the loan shall be in compliance with CWCB Financial Policy #5.
Water Supply Protection • Watershed Protection & Flood Mitigatio n • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • In trastate Water Management & Development