C150152 Contract

• Contract/PO #: C150152
• Contractor Name: New Castle, Town of
• Contract Type: Loan
• Water District: 39
• County: Garfield
• Loan Projects - Doc Type: Contract Documents

PROJECT SUMMARY - TOWN OF NEW CASTLE - CONTRACT No. C150152

SECTION 1 -BORROWER INFORMATION
Name: Town of New Castle acting by and through the Town of
New Castle Water and Sewer Enterprise
Address: P. O. Box 90, New Castle, CO 81647
Federal Identification No.: 84-6000700
Contact: Steve Rippy, Town Administrator
Phone Number: 970-984-2311 Fax Number: 970-984-2716
, E-mail address: [e-mail]
Type of Entity: The Town of New Castle is a home rule town pursuant to ~ 31-
1-203, C;R.S. (1986), located in Garfield County in the State of
Colorado. The BORROWER is an enterprise within the meaning
, of ~37-45.1-101 et sec., C.R.S. and Article X, Section 20 of the
Colorado Constitution, and was established the Town's Board of
Trustees by Ordinance No. 463 dated December 26, 1995,
incorporated herein by reference.
Section 2 - Project Description
Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used
for the construction of a new diversion structure and pump station on the Colorado
River, and a raw. water pipeline to its existing water treatment facility, located in
Garfield County, hereinafter referred to as the PROJECT, at an estimated total cost of
$1,006,900.
Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Loan Feasibility of Construction of the New Castle Colorado
River Raw Water Transmission System," dated August 2003, which is incorporated
herein by reference, and, based upon the feasibility report, the CWeB determined the
PROJECT to be technically and financially feasible.
SECTION 3 - eWCB's AUTHORITY
Small Proiect Loan: This loan is made pursuant to the provisions of ~~ 37-60-119
and 37-60-120, C.R.S., which authorizes the ewcs to loan money for water projects
for the benefit of the people of the State, provided that the borrower assures
repayment of that money.
Section 37-60-122(1)(b) C.R.S., authorizes the CWCS to make loans of up to
$5,000,000 from the CWCS's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Assembly .
SECTION 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED)
At its September 2003 meeting, the CWCB approved a Small Project Loan from the
Construction Fund to the BORROWER in an amount up to $700,000 for PROJECT costs plus
$7,000 for the 1 % loan service charge for a total loan amount of $707,000, with repayment

Appendix 1 to Loan Contract C150152