PROJ01950 ‎(4)‎

• Contract/PO #: C153837
• Contractor Name: Chatfield South Water District
• Contract Type: Loan
• Water District: 8
• County: Douglas
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Project Completion Letter

AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER: 99 PDA 001)4D

$500,000 '

LOAN CONTRACT

THIS CONTRACT, made this /q'tftday of ~~,) 1999 by and between
the State of Colorado for the use and benefit of the Department of Natural Resources,
Colorado Water Conservation Board, hereinafter referred to a,s CWCB or the STATE, and the
Chatfield South Water District, a quasi~municipal corporation, P. O. Box 474, Littleton,
CO 80160-0474, hereinafter referred to as the BORROWER and/or CONTRACTOR.

FACTUAL RECITALS

A. 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 YVYY, Appropriation L98, GBl CSWD, Program WTRC,
Object Code 5180! Contract Encumbrance Number C153837.

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

C. Pursuant to the provisions of~~37-60-119 and 37-60-120, C.R.S., the STATE is authorized to
loan money for water projects for the benefit of the people of the STATE, provided that the
borrower assures repayment of that money.

D. The BORROWER is a special district duly formed under and governed by Article 1 of Title 32,
C.R.S., located in Douglas County, Colorado.

E. The BORROWER has' applied to the STATE for a loan to finance the purchase of certain water
rights (hereinafter referred to as PROJECT) at a cost of approximately $650,000, as part of a
larger project involving the construction of a domestic water system. The estimated cost of
Phase I of this system is $1,156,000.

F. At an election held on November 4, 1997, the BORROWER'S electorate voted in favor of the
BORROWER incurring PROJECT-related debt and increasing taxes to repay that debt. The
Order and Decree Creating District in Civil Action No, 97CV444, entered by the Douglas
County District Court on November 18, 1997, which includes the ballot results from said
election, is incorporated herein by reference.

G. The STATE has reviewed a feasibility report compiled by Joseph Rottman, P.E. and Thomas
Barbour, and an evaluation of the PROJECT water rights both of which are incorporated herein
by reference, and, based upon the feasibility report and the evaluation, the STATE determined
the PROJECT to be technically and financially feasible.

,

H. At its November 1997 meeting, the CWCB approved a loan to the BORROWER in the amount
of Five Hundred Thousand Dollars ($500,000) at an interest rate of 4.75% per annum for a

Chatfield South Water District

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