My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C153609 contract docs
CWCB
>
Loan Projects
>
DayForward
>
2001-3000
>
C153609 contract docs
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/15/2011 9:39:57 AM
Creation date
8/15/2011 9:28:33 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153609
Contractor Name
Conejos Water Conservancy District
Contract Type
Loan
Water District
22
County
Conejos
Bill Number
SB 87-15
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
58
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
. <br />�; .. • � � <br />WHEREAS, the District and the Enterprise desire to provide the <br />Colorado Water Conservation Board adequate security for the <br />repayment of the funds borrowed pursuant to the obligation to be <br />incurred. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br />THE CONEJOS WATER CONSERVANCY DISTRICT AND THE PLATORO RESERVOIR � <br />ENTERPRISE: <br />1. That the District and the Enterprise shall be authorized <br />to enter into a contract ("Project Contract") with the State of <br />Colorado to borrow $350,000 and to accept an additional $100,000 <br />which shall be non-repayable to the State in exchange for.the <br />State`s right to use a portion of Platoro Reservoir storage <br />capacity for the purpose of ineeting Colorado's obligations under <br />the Rio Grande Compact, for the purpose of paying the construction <br />costs of Platoro Dam and Reservoir and related water works and <br />facilities, said loan for. $350,000 to be repaid, together with <br />$50,000 previously loaned to the District by the Colorado Water <br />Conservation Board, for a total of $400,000, to bear interest at a <br />net effective interest rate of 5% per annum over 40 years. <br />2. That said loan for $ 00, together with the previous <br />loan of $50,000, for a 400,000, shall be repaid as <br />follows: � <br />a. During the s, installments shall be <br />paid into a reserve e� a ained for the benefit of <br />the Colorado Water Con t' oard. <br />b. During the next 38 years, installments shall be paid <br />to the Colorado Water Conservation Board. <br />c. Installments shall be equal annual payments of <br />$26,085.06, based upon $440,000, which is the principal amount plus <br />simple interest for the first two years at 50, amortized in equal <br />annual payments over 38 years at 5o interest. <br />3. The District and the Enterprise are authorized to <br />establis?z and maintain a reserve escrow account and to set aside <br />sufficient annual Platoro Reservoir Project revenues in such <br />account, separate and apart from other revenues of the District and <br />the Enterprise to assure repayment of this revenue to the State; to <br />fix and collect charges and fees sufficient to pay off the new loan <br />and the $50,000 loan under the Computer Modelling Contract, <br />pursuant to the terms of the Project Contract; to sign a security <br />interest in such revenues in favor of the State to secure <br />repayment; and to repay these loans to the State. <br />4. The Enterprise was established by resolution'of the Board <br />of Directors of the District dated July 7, 1993. Said resolution <br />shall be irrevocable for the duration of the Project Contract and <br />2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.