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0 <br />SEC710N 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED� <br />A. At its November 19-20, 2001 meeting, the CWCB approved a loan to the <br />BORROwER in an amount up to $15 ,000 ,000 (LOAN AMOUNT� not to exceed <br />75% of the cost of the PRO�ECT, at an interest rate of 4.5% per annum for a <br />repayment term of � 20 years to construct the PRO�ECT and to refinance <br />eligible PRO�ECT costs already paid for by the BoRROweR. <br />B. Pursuant to Bill HB02-1152, Section 2(a), the Colorado General Assembly <br />authorized CWCB to loan to the BoRROwER an amount up to $15,000,000 <br />for the PRO�ECT, and to whofly or partially refinance the PRO�ECT. <br />SECTION 5— SCHEDULE OF EXISTING DEBT <br />� L9enholder Contract Da#Q Original Term of Priority <br />Amount Repayment <br />1998 Bond Issue March 1998 5,445,000 4.5% due 2015 Parity <br />2001 Bond Issue August 2001 1,740,000 4.25°/a due 2015 Parity <br />CWRPDA April 1994 600,000 4.75% due 2014 Parity <br />(1994 Small Water) <br />CWRPDA August 1994 1,665,000 5.5% due 2014 Parity <br />(1994 Sewer) <br />June1997 <br />CWRPDA (1997 Small Water) 4,925,000 5.18% due 2017 Parity <br />CWRPDA May 1997 3,271,000 4.54% due 2017 Parity <br />(1997 Sewer) <br />CWRPDA February 2000 • 13,365,000 5.92% due 2019 Parity <br />(2000 Small Water) <br />CWRPDA May 2001 12,063,000 4.66% due 2020 Parity <br />(2000 SRF Sewer) <br />CWRPDA �ay 2001 4,913,000 4.01% due 2021 Parity <br />(2001 SRF Sewer) <br />CW RPDA June 2002 10,055,000 5.11 % due 2022 Parity <br />(2002 Small Water) <br />O�tober 2002 <br />CWRPDA (2002 SRF Clean 14,112,000 3.62% due 2025 Parity <br />Water) <br />The BORROWER has existing bond issues from 1998 and 2001 and with the <br />Colorado Water Resources and Power Development Authority ("CWRPDA"). The <br />parity certificate that allows this loan to be on parity with the above listed loans is <br />incorporated herein by reference. <br />Page 2 of 4 <br />