|
gORROWER: U.S. DEPARTMENT OF ENERGY
<br />WESTERN AREA POWER ADMINISTRATION
<br />Contract No. C150176
<br />Total Loan Amount $5,938,800
<br />Project Cost $5,880,000
<br />1 % Loan Service Fee $58,800
<br />Agency Name: Colo Water Conservation Board
<br />Agency Number PDA
<br />Routing Number 05 PDA ODD /�
<br />LOAN CONTRACT
<br />THIS CONTRACT made this September 1, 2004, by and befinreen the State of Colorado
<br />for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Consenration Board ("CWCB" and/or the " STATE "), and the U.S. Department of Energy
<br />Western Area Power Administration, a Federal agency, P.O. Box 11606, Salt Lake City, UT
<br />84147-1534 (" BORROWER " and/or " CONTRACTOR ").
<br />FACTUAL RECITALS
<br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment as
<br />follows: Fund Number 489, Organization YYYY, Appropriation Code 010, GBL WAPA,
<br />Program WTRC, Object Code 5140, Reporting Category 0176, Contract Encumbrance No.
<br />C150176.
<br />2. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />3. CWCB's authority for making this loan: Co/orado River Recoverv Loan Account. Pursuant
<br />to the provisions of section 37-60-122.9, C.R.S. (2001), the CWCB is authorized to make
<br />loans to the Colorado River and San Juan River Recovery Programs for the construction or
<br />improvement of certain water related projects in Colorado under agreements with power users
<br />of the Federal Colorado River Storage Project, required to recover the four endangered fish
<br />species of the upper Colorado River, including the San Juan River.
<br />4. The BoRROwER applied for a loan to cover costs of capital projects of the Upper Colorado
<br />and San Juan River Basins Recovery Implementation Program under Public Law 106-392,
<br />including planning, design, permitting or other compliance, pre-construction activities,
<br />construction, construction management, and replacement of facilities, and the acquisition of
<br />interests in land or water, as necessary to carry out the Recovery Implementation Programs
<br />("PROJECT"�.
<br />5. At its November 2003 meeting, the CWCB approved a loan to the BoRROwER in an amount
<br />up to $5,938,800 ($5,880,000 for PRO�ECr costs and $58,800 for the CWCB 1% loan senrice
<br />fee) at an interest rate of 3.25% per annum (based on a blend of the CWCB's 2.5%
<br />agricultural rate and 4% municipal middle-income rate) for a repayment term of thirty years,
<br />which repayment term shall commence in 2012.
<br />6. Pursuant to H.B. 04-1221, Section 20, the Colorado General Assembly authorized CWCB to
<br />1Oa11 t0 th@ BORROWER atl BCYlOUC1t Up t0 $5 ("AUTHORIZED LOAN AMOUNT" for the
<br />PROJECT.
<br />7. Section 3(c)(3) of Public Law No. 106-392,114 Stat.1604 (2000) authorizes the BoRROwER to
<br />accept this loan from the CWCB and to repay this loan from power revenues collected
<br />Page 1 of 8 Loan Contract
<br />
|