C150176 contract docs

• Contract/PO #: C150176
• Contractor Name: Western Area Power Administration, U.S. Department of Energy
• Contract Type: Loan
• Water District: 0
• County: Statewide
• Loan Projects - Doc Type: Contract Documents

� beginning in Federal fiscal year 2012. Section 3(c)(3) requires the inclusion herein of
provisions designed to minimize impacts on electrical power rates.
8. The CWCB� now desires, by this contract, to loan money to the BoRROwER for this PRO�ECT
upon mutu�ally agreeable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained herein, the
parties agree as follows
A. LOAN PROVISIONS
1. Terms of Loan. The CWCB agrees to loan to the BoRROwER an amount not to exceed the
AurHORizE� LoAN AnnouNT at an interest rate of three and one-quarter percent (3.25%) per
annum for a repayment term of thirty (30) years, which term shall commence in 2012. The
BoRROwER agrees that it shall repay this loan in accordance with the Repayment Provisions
of this contract.
2. Use of Loan Funds. The BoRROwER agrees that no loan funds shall be used to exercise the
power of eminent domain to acquire water rights.
3. Disbursement Schedule. The BoRROwER shall submit to the CWCB written requests for
loan disbursements that include a brief description of the PRO�ECT activities and costs to be
covered by the disbursement. The CWCB shall disburse the requested loan funds within
fifteen (15) days from the CWCB's receipt of the request.
4. Repayment Provisions.
a. Interest shall accrue on the loan funds disbursed by the CWCB to the BoRROwER at the
rate of three and one-quarter percent (3.25%) per annum.
b. The BoRROwER shall repay to the CWCB the amount disbursed to the BoRROwER, up to
the principal sum of $5,938,800, and interest, at the rate of three and one-quarter percent
(3.25%) per annum for a term of thirty (30) years, with the thirty-year repayment term
commencing on October 1, 2012. This thirty year payment term may be modified by the
BORROWER exercise of its option to not remit annual payment, set forth at section A.5
herein, provided that the BoRROwER shall pay in full all principal and interest due on this
loan no later than September 30, 2057. The annual payment amount shall be based
upon a thirty year repayment term.
c. Payments by the BORROWER are contingent upon Federal funds being appropriated,
budgeted and otherwise made available.
d. The exact amount of the first annual payment shall be established by the CWCB and the
BoRROwER will be notified on or before October 1, 2011. The CWCB shall establish the
subsequent annual payment amounts and the BoRROwER will be notified on or before
thirty days prior to the annual October 1 St due date. The initial payment shall be based on
the terms of Paragraph 4.b with interest accruing from the date of disbursement up
through October 1, 2012. The estimated initial payment, based on a disbursement of
$5,938,800 on October 1, 2004, would be $392,331.04. The initial payment amount
shall be based on the actual dates of disbursement. The subsequent payment
amounts shall be based on any deferrals claimed by the BoRROwER.
e. The BoRROwER shall remit the payments to the Colorado Water Conservation Board,
1313 Sherman Street, Room 721, Denver, Colorado 80203.
f. This loan may be prepaid in whole or in part at any time without premium or penalty. Any
partial prepayment shall not postpone the due date of any subsequent payments or
change the amount of such payments.
Page 2 of 8 Loan Contract