C150243 proj completion ltr

• Contract/PO #: C150243
• Contractor Name: Aurora, City of
• Contract Type: Loan
• Water District: 0
• County: Adams
• Bill Number: SB 07-122
• Loan Projects - Doc Type: Project Completion Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Shern�n Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
May 21, 2010
Ms. Karen Feeney, Interim CFO
Aurora Water
15151 E Alameda Parkway, Suite 3600
Aurora CO 80012
Re: Notice ofProject Substantial Completion and Repayment
Loan Contract Number C150243 — Prairie Waters Project
Dear Ms. Feeney:
Bill Ritter, Jr.
Governor
Mike King
DNR Executive Director
Jennifer L. Gimbel
CWCB Director
This letter is to advise you that the work described in the above referenced Contract was
substantially completed as of May 1, 2010.
In accordance with the Contract, Aurora Water owed $669,031.42 for interest during
construction, as calculated on the attached spreadsheet. Payment has been received and applied
to your account on May 17, 2010.
On May 18, 2010, the Colorado Water Conservation Board approved your request for two years
of deferred principal payments so that your first two annual loan payments will be interest only.
These payments will be in the amount of $2,840,625.00 due on May 1, 2011 and 2012. The
remaining annual loan payments will be in the amount of $4,415,876.87 for the following 28
years of the 30-year term. This was calculated based on a$75,750,000.00 final loan balance at
3.75% for 28-years. The final loan balance of $75,750,000 was based on a principal balance of
$750,000 plus a 1% service fee of $750,000. Please see the attached Loan Repayment Schedule.
Vaughn McWilliams, Contract Manager, will amend the Promissory Note to reflect the revised
terms. The Promissory Note is Appendix 1 of the Loan Contract.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.15,
please note that the renewed insurance certificates need to be provided to the CWCB annually.
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