LPPD000408

• Contract/PO #: C153721
• Contractor Name: Lyons, Town of
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Loan Projects - Doc Type: Contract Documents

AGENCY NAME: Water Conservation Board

AGENCY NUMBER: PDA

TRACT & PROMISSORY NOTE

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State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board (CWCB), hereinafter referred to as the STATE, and the TOWN OF LYONS, P.O. Box 49,
Lyons, Colorado 80540, hereinafter referred to as the BORROWER and/or CONTRACTOR.

PAIn
IN~

ROUTING NUMBER: 97 PDA

$280,500

THIS CONTRACT, made this

j

1996, by and between the

FACTUAL RECITALS

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 A01, GBL LYON, Program WTRC, Object Code 5120, Contract Encumbrance
Number C153721.

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, C.R.S. (1990), 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 borrower assures repayment of that money.

4. The BORROWER is a statutory town pursuant to ~ 31-1-203, C.R.S. (1986), located in Boulder
County in the State of Colorado.

5. The BORROWER held an election on November 7, 1995, whereby voters approved increasing the
BORROWER'S debt by an amount up to $4,000,000 for the construction and improvement of the BORROWER'S
water system facilities, as shown on the election results incorporated herein by reference.

6. Pursuant to ~ 31-15-302, C.R.S. (1986), the BORROWER is authorized to contract to borrow money
provided that an ordinance has been duly adopted by its Board of Trustees authorizing repayment of the loan
to the STATE according to the terms of the contract.

7. The BORROWER applied to the STATE for a loan to be used for the rehabilitation of the TOWN'S raw
water intake structure, hereinafter referred to as the PROJECT.

8. The STATE has reviewed a feasibility report compiled by RBD, Inc., which is incorporated herein by
this reference, and, based upon the feasibility report, the STATE determined the PROJECT to be technically and
financially feasible.

9. At its January 24-25, 1996 meeting, the CWCB approved a loan to the BORROWER in the amount
of Two Hundred Eighty Thousand Five Hundred Dollars ($280,500), which amount sha.!Ylot exceed 75% of
actual PROJECT costs, at an interest rate of five percent (5%) per annum for a term of twenty (20) years to
finance PROJECT costs.

Town of Lyons

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Loan Contract