Laserfiche WebLink
<br />...... ."... ,- ;.') <br /> <br />Town of Paonia <br />Attn: John Norris, Town Manager <br />April 10, 2003 <br />Page 2 <br /> <br />Identification Number, and (2) an authorization agreement is for electronic fund <br />transfer of loan funds into the Company's checking account. <br /> <br />5. Additional funding. Prior to disbursement of any loan funds, the Town must <br />provide proof that the Town has secured a source for the additional $710,000 <br />needed for the purchase of the, 770 acres. <br /> <br />6. Appraisal. As soon as it is available, please send me a copy of the appraisal so <br />that I can fill in some informatiion needed in the Project Summary. I will send a <br />revised Project Summary after I revise the appraisal information. The appraisal <br />must indicate that the apprai8ed value of the land and water taps equals or <br />exceeds the $1.8 million purch;8se price. <br /> <br />7. Certificate of Insurance. Pursuant to Paragraph A.13 in the Loan Contract, the <br />Town must have insurance in the (minimum) limits described. The insurance <br />company can fax the certificate to me at 303-894-2578. No loan funds can be <br />disbursed until the Town has provided proof of insurance. <br /> <br />When we have all of the information needed for the contract, I will provide a set of <br />contract documents for signature. Once the Town returns the executed contract <br />documents, it will take approximately two to four weeks to obtain final approval from the <br />State Controller's Office. Upon finall approval of the contract, the loan funds will be <br />available for disbursement. <br /> <br />Please contact me at 303-866-3462 if you have any questions or concerns regarding <br />this contract. <br /> <br />~ <br /> <br /> <br />i lilian, Contract Administrator <br />er Supply Planning and Finance Section <br /> <br />cc: Briscoe, Esq. <br />Bassi, AGO <br />CWCB Contract File <br />CWCB Chrono File <br />