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C150367 Contract
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C150367 Contract
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Last modified
12/30/2015 3:07:01 PM
Creation date
2/11/2014 11:50:53 AM
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Loan Projects
Contract/PO #
CT2015-007
C150367
Contractor Name
Lamar, City of
Contract Type
Loan
Water District
67
County
Prowers
Loan Projects - Doc Type
Contract Documents
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BORROWER: CITY OF LAMAR, A HOME RULE AGENCY NAME: Water Conservation Board <br /> MUNICIPALITY,ACTING BY AND THROUGH ITS AGENCY NUMBER: PDA <br /> WATER ACTIVITY ENTERPRISE CONTRACT FORM: PUBLIC/071213 <br /> CONTRACT No. C150367 CWCB CMS #62300 <br /> PROJECT AMOUNT $785,000 <br /> LOAN SERVICE FEE $7,850 <br /> LOAN AMOUNT $792,850 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT—WAIVER#160—APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT, made between the State of Colorado for the use and benefit of the <br /> Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or <br /> "STATE"), and the City of Lamar, 103 North Second Street, Lamar, Colorado, 81052, a <br /> home rule municipality, acting by and through its Water Activity Enterprise ("BORROWER"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br /> made available and a sufficient unencumbered balance thereof remains available for <br /> encumbering and subsequent payment of this CONTRACT under: Contract <br /> Encumbrance No. C150367, Fund Number 424, Appropriation Code M14, Organization <br /> YYYY, GBL L367, Program WTRC, Object Code 5510, Reporting Category 0367; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies; and <br /> 3. On September 25, 2013 the CWCB approved a project loan request, from the <br /> BORROWER, for the Raw Water Transmission Line Replacement Project (PROJECT) to <br /> replace a deteriorated transmission line from one of the City's well fields to its <br /> treatment facility. The total cost of the PROJECT is $1,970,000. The BORROWER was <br /> approved for a $200,000 grant (C150527) by the Arkansas Basin Roundtable from the <br /> Water Supply Reserve Account (WSRA) and a $985,000 grant from the Department of <br /> Local Affairs (DOLA). The BORROWER has been approved for a CWCB 30 year loan to <br /> assist with the remaining 40% of PROJECT costs at an interest rate of 2.25%; and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains <br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's <br /> authority for making this loan (Section 3), and CWCB Approval and Legislative <br /> Authorization which identifies the amount of the loan and the terms of repayment <br /> (Section 4); and <br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions; and <br /> THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> Loan Contract C150367 <br /> Page 1 of 12 <br />
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