LPPD000406

• Contract/PO #: C153778
• Contractor Name: Upper Yampa Water Conservancy District
• Contract Type: Loan
• Water District: 58
• County: Routt
• Bill Number: SB 97-008
• Loan Projects - Doc Type: Contract Documents

AGENCY NAME: Water Conservation Board

AGENCY NUMBER: PDA
ROUTING NUMBER: CJ I oCf7

$2,000,000

LOAN CONTRACT

THIS CONTRACT, made this I '7'!! day of JU!1~ between the State of Colorado
for the use and benefit of the Department of Natural Re rado Water Conservation Board
(CWCB), hereinafter referred to as the STATE, and the er Ya te Conservancy District,
Steamboat Springs, Colorado 80488, hereinafter referred :"'1 t lor CONTRACTOR.

FACTUAL R\~T

1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available for payment in Fund
Number 424, Organization YYYY, Appropriation L97, GBL YAMP, Program WTRC, Object Code
5120, Reporting Category: 3778, Contract Encumbrance Number C153778.

2. Required approval, clearance, and coordination have been accomplished from and with appropriate
agencies.

3. Pursuant to the provisions of ~~ 37-60-119 and 37-60-120, 15 C.R.S. (1990 and 1996 Supp.) the
STATE is authorized to loan money for the construction of water projects for the benefit of the people
of the STATE, provided that the berrower assures repayment of that money.

4. The BORROWER is a duly constituted Colorado water conservancy district formed pursuant to and
govemed by Article 45 of Title 37, C.R.S. (1990 and 1996 Supp.), located in Routt and Moffat
Counties, State of Colorado.

5. The BORROWER has applied to the STATE for a loan to be used for refinancing the construction of the
Stagecoach Dam and Reservoir at a lower interest rate by retiring a portion of the BORROWER'S 1987
loan from the United States Bureau of Reclamation ("USBR Loan"), hereinafter referred to as
PROJECT, at a cost of $2,000,000. The USBR Loan was made pursuant to Contract No. 7-07-40-
R0480 between the BORROWER and the USBR, and the outstan~alance is approximately
$2,000,000. ta.. '"-\.I

6. The STATE has reviewed the BORROWER'S financial statemenp.~ in 'WTla\. .n ni submitted by the
BORROWER and, based upon this review, the STATE determin~1f~e c~~ancially feasible.

7. At its November 25-26, 1996 meeting, the CWCB appro\fllfr~~m the BORROWER in an amount
not to exceed $2,000,000 at an interest rate of 4Y:z% pe~ ~~for a duration of 20 years, on the
condition that the BORROWER shall utilize its own funds to pay in full the balance on the USBR Loan
minus the amount loaned to the BORROWER by the STATE under this contract.

8. Pursuant to Senate Bill 97-008, Section 1, the Colorado General Assembly authorized the CWCB to
loan to the BORROWER an amount not to exceed $2,000,000 for the PROJECT.

Upper Yampa Water Conservancy District

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