C153837 contract docs

• 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: Contract Documents

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AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER: 99 PDA ODd�(J
$500,000
LOAN CONTRACT
THIS CONTRACT, made this ��day 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 as CWCB or the STarE, 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 Corvrw�cTOR.
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 YYYY, Appropriation L98, GBL CSWD, Program WTRC,
Object Code 5180, Contract Encurnbrance Klumber C153837.
B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
C. Pursuant to the provisions of §§ 37- -120, C.R.S., the SrATE is authorized to
loan money for water projects for th e people of the STaTE, provided that the
borrower assures repayment of that ney.
D. The BoRROwER is a special dist ' fo e � governed b Article 1 of Title 32
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C.R.S., located in Douglas Coun o r o.
E. The BoRROwER has applied to the STATE for a loan to finance the purchase of certain water
rights (hereinafter referred to as PRO�ECr) 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 th2 BORROWER electorate voted in favor of the
BoRROwER incurring PRO�ECT-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 PRO�ECT water rights both of which are incorporated herein
by reference, and, based upon the feasibility report and the evaluation, the STATE determined
the PRO.tECT 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
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