C153618 PIF Contract

• Contract/PO #: C153618
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

general liability insurance covering the management, operation,
and maintenance of the project until it completes repayment to the
State in at least the following amounts:
a. For any injury to one person in any single occurrence,
the sum of One Hundred Fifty Thousand Dollars ($150,000).
b. For any injury to two or more persons in any single
occurrence, the sum of Four Hundred Thousand Dollars
($400,000).
c. For any damage to property, the sum of Four Hundred
Thousand Dollars ($400,000) for each occurrence.
Said liability coverage shall be maintained through the
Contractor's self- insurance program. A copy of the ordinance
creating the Contractor's self - insurance program and a letter of
credit creating a reserve for the program are attached and made a
part hereof as Exhibit A.
8. Make the services of said project available within its
capacity and in accordance with its rules and regulations,- and
operational guidelines, to all persons in the Contractor's service
area without discrimination as to race, color, religion, or
national origin at reasonable charges (including assessments,
taxes, or fees), whether for one or more classes of service, in
accordance with a schedule of such charges formally adopted by the
Contractor through its City Council, as may be modified from time
to time. The Contractor hereby states and ffirms that the rate
schedule adopted by the Water and Sewer B and the City Council
in accordance with the Charter of the Ci'L`, Gr must and
shall provide for the generation of sid', nt e ' es for: (1)
the operation and maintenance of the!w��eor sx�n. � ( 2 ) debt
service requirements including repay m n 0 -- .ttelproject loan
authorized by this contract; and (3) add* obi o a reserve
account to offset depreciation to the wl'ter,.system. The
Contractor may make such modification'to the rate schedule as the
Contractor deems necessary to efficiently and economically provide
for the financial requirements of the system. The rate schedule
shall remain reasonable and non - discriminatory.
9. Adjust its operating costs and service charges at the
request of the State to provide for adequate operation and
maintenance, emergency repair services, obsolescence reserves, and
debt reserves and to assure repayment pursuant to this contract.
10. Provide the State with such periodic reports as the
State may require and permit periodic inspections of its
operations and accounts by a designated representative of the
State.
11. Repay to the State the total sum of Six Hundred Seventy -
Four Thousand Twenty -Five Dollars ($674,025), which includes the
project loan amount and the Twenty- Three - Thousand- Six- Hundred-
Forty - Dollar ($23,640) feasibility report amount, (as shown in
Exhibit B, which is attached hereto and made a part hereof),
together with interest at five percent (5 %) per annum, said
repayment to be made in constant annual installments of Twenty -Six
Thousand Nine Hundred Sixty -One Dollars ($26,961) each for twenty -
five (25) years, as shown in Exhibit C, attached hereto and
incorporated by reference herein, which first installment shall be
due and payable on the first day of the month next succeeding the
month in which the State determines that the project has been
substantially completed, and yearly thereafter until the entire
principal sum shall have been paid. Said installment payments
shall be made payable to the Colorado Water Conservation Board,
payable at the offices of said Board in Denver, Colorado.
The Contractor pledges its full faith and credit in support
of this obligation and warrants that it shall lawfully adopt a
valid ordinance that recognizes this obligation pursuant to its
charter prior to the execution of this Contract. Such ordinance
Page 3 of 8 pages