|
<br />Severance Tax Trust Fund Perpetual Base Account to the BORROWER in an amount up
<br />to $4,994,955 for PROJECT costs, not to exceed 90% of the cost of the PROJECT, with a
<br />loan origination fee of 1 % in accordance with CWCB Policy No. 16, at an interest rate of
<br />3.6% per annum for a repayment term of 20 years.
<br />
<br />SECTION 5 - SCHEDULE OF EXISTING DEBT
<br />
<br />The BORROWER has four outstanding revenue bond issues (1) 1999 Water Revenue! Bond,
<br />principal balance $4,100,000, maturing in 2019, with a payment of $381,523 due in 2006;
<br />(2) 2002 Water Revenue Bond, principal balance $3,145,000, maturing in 2021, with a
<br />payment of $208,645 due in 2006; (3) 2004 Water Revenue Refunding Bond, principal
<br />balance $4,635,000, maturing in 2014, with a payment of $258,658 due in 2006; (4) 2004B
<br />Water Revenue Refunding Bond, principal balance $5,085,000, maturing in 2020, with a
<br />payment of $230,213 due in 2006; and two loans with Colorado Water Resourcf~s and
<br />Power Development Authority that mature in 2008 (1) $4,800,000 September 15, 1992,
<br />and (2) $1,617,221 September 15, 1998. The parity certificate dated
<br />establishing that the lien created by this loan has parity with the liens described above, is
<br />incorporated herein by reference.
<br />
<br />SECTION 6 - ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS
<br />
<br />No additional conditions.
<br />
<br />SECTION 7 - CONSTRUCTION FUND PROGRAM PROCEDURES
<br />
<br />A. The BORROWER shall employ an engineer, registered in the state of Colorado to
<br />prepare plans and specifications for the PROJECT.
<br />
<br />B. The BORROWER'S and the Engineering Consultant's plans and specifications must
<br />be submitted to the CWCB staff for verification of compliance with the terms of this
<br />Contract when available prior to bidding. Any modifications to the plans and
<br />specifications must be approved in writing by the CWCB staff.
<br />
<br />C. For plans and specifications for all jurisdictional dams and reservoirs, as defined
<br />by S 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the
<br />State Engineer's Office prior to construction.
<br />
<br />D. CWCB staff must be present at bid opening and must approve the award of the
<br />construction contract.
<br />
<br />E. The BORROWER shall contract for the construction of the work with responsible and
<br />capable Construction Firms, which said Construction Firms shall be selected by
<br />the BORROWER and found acceptable by the CWCB staff.
<br />
<br />F. The BORROWER must provide a copy of the executed construction contract
<br />documents consisting of the contractor's proposal, construction contract,
<br />performance bond, payment bond, notice of award, notice to proceed, sample
<br />change order, and sample field order, as well as the advertisement for bid and bid
<br />bond at bidding. After the CWCB staff verifies that these documents comply with
<br />
<br />Appendix 1 to Loan Contract C150210
<br />Page 2 of 4
<br />
|