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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER:
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<br />$305,250
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<br />LOAN CONTRACT
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<br />THIS CONTRACT, made this r; day of (}"4Ae- 2000 by and between
<br />the State of Colorado for the use and benefit of the Department of Natural Resources,
<br />Colorado Water Conservation Board, hereinafter referred to as CWCB or the STATE, and the
<br />Columbine Ranches Property Association, a Colorado non-profit corporation, 11246
<br />Lewistown Street, Commerce City, CO 80022, hereinafter referred to as the BORROWER
<br />and/or CONTRACTOR.
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<br />. ,FACTU~1IE~~lS "
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<br />A Authority exists in the law, and f~ve heY~ed, appropriated and othelWise made
<br />available and a sufficient unen, ed!ece thereof remain,s available for payment in
<br />Fund Number 424, Organization O~)t~<;irL99, GBL COLU, Program WTRC,
<br />Object Code 5110, Reporting Category 0010, ' ~~cumbrance Number C150010.
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<br />B. Required approval, slearance, and- coordination have been accomplished from and with
<br />appropriate agencies.
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<br />C. Pursuant to the provisions of sections 37-60-119 and 37-60-120, C.R.S. (1999), the STATE is
<br />authorized to loan money for water projects for the benefit of the people of the STATE,
<br />provided that the borrower assures repayment of that money.
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<br />D. The BORROWER is a duly constituted Colorado nonprofit corporation, formed pursuant to
<br />, and governed by section 7-121-101 et sea., C.R.S. (1999), located in Adams County, State
<br />of Colorado.
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<br />E. The BORROWER has applied to the STATE for a loan in the amount of $305,250 to finance
<br />the purchase of certain water rights for augmentation, the cost of engineering to evaluate
<br />the consumptive use of the shares to be purchased, and the cost to install flow measuring
<br />equipment and the turnout structures to route the augmentatio'.l water back to the river
<br />(hereinafter referred to as PROJECT) at a total cost of approximately $407,000.
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<br />F. The STATE has reviewed a feasibility report compiled by Robert Longenbaugh P.E., of
<br />Lakewood, which includes an assessment of alternatives to the PROJECT, which is
<br />incorporated herein by reference, and, based upon the feasibility, report, the STATE
<br />determined the PROJECT to be technically and financially feasible.
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<br />G. At its November 23-'24,1998 meeting, the CWCB approved a loan to the BORROWER in the
<br />amount up to Three Hundred and Five Thousand Two Hundred and Fifty Dollars ($305,250)
<br />at an interest rate of 4.75% per annum for a term of thirty (30) years for financing up to 75%
<br />of PROJECT costs, contingent on an appraisal of the water rights being conducted and on the
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<br />Columbine Ranches Property Owner's Association
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