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<br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: <br /> <br /> <br /> <br />LOAN CONTRACT <br /> <br />THIS CONTRACT, made this 20th day of June 2000, <br />by and between the State of Colorado for the use and benefit of the Department of Natural <br />Resources, Colorado Water Conservation Board, hereinafter referred to as the CWCB <br />, and/or STATE, and the City of Loveland, Colorado, hereinafter referred to as the CITY and/or <br />CONTRACTOR and the City of Loveland, Colorado, Water Enterprise, 200 North Wilson Ave., <br />Loveland, Colorado 80537, hereinafter referred to as the BORROWER and/or CONTRACTOR. <br /> <br />FACTUAL RECITALS <br /> <br />A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />payment in Fund Nu r 424, Or;ganization YY'fL Appropriation L98, GBL LOVE, <br />Program WTRC_Object Code 10, Reporting Category: 0005, Contract Encumbrance <br />- ~ -- <br />Number C150005'7 <br /> <br />B. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br /> <br />C. Pursuant to the provisions of SS 37-60-119 and 37-60-120, C.RS. (1999), the STATE is <br />authorized to loan money for water projects for the benefit of the people of the State of <br />Colorado provided that the borrower assures repayment of that money. <br /> <br />D. The City of Loveland is a home rule city pursuant to Article XX of the Colorado <br />Constitution, located in Larimer County in the State of Colorado. <br /> <br />E. The BORROWER is an enterprise within the meaning of S 37-45.1-101 et seo., C.RS. <br />(1999) and Article X, Section 20 of the Colorado Constitution, and was established by <br />Resolution #R-73-93 of the City Council of the CITY dated November 2, 1993 and by <br />Ordinance 4454 dated August 4, 1999, which are incorporated herein by reference. <br /> <br />F. Pursuant to SS 37-45.1-106, C.RS. (1999), the BORROWER is authorized to contract with <br />the CWCB for loans related to water activity enterprise functions. <br /> <br />G. The CITY applied to the STATE for a loan to be used for the expansion of the Green Ridge <br />Glade Reservoir, hereinafter referred to as the PROJECT, at a total estimated cost of <br />$20,000,000. <br /> <br />H. The STATE has reviewed feasibility analyses compiled by Camp Dresser & McKee and <br />by Woodward-Clyde, which are incorporated herein by this reference, and, based upon <br /> <br />City of Loveland and City of Loveland, <br />Colorado, Water Enterprise <br /> <br />Page 1 of15 <br />