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I { ' <br /> BORROWER: BOXELDER BASIN REGIONAL AGENCY NAME: COLORADO WATER <br /> STORMWATER AUTHORITY,A DRAINAGE CONSERVATION BOARD <br /> AUTHORITY AGENCY NUMBER: PDA <br /> CONTRACT NO: C150393 CONTRACT TYPE: LOAN/PUBLIC <br /> PROJECT AMOUNT$810,000 CWCB CMS#65327 <br /> LOAN SERVICE FEE $8,100 <br /> LOAN AMOUNT$818,100 <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"), Boxelder Basin Regional Stormwater Authority, 1627 East 18th Street, Loveland, <br /> Colorado, 80538, a drainage authority pursuant to C.R.S. §29-1-204.2, ("BORROWER" OR <br /> "AUTHORITY"). <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. C150393, Fund Number 424, Appropriation Code M14, Organization <br /> YYYY, GBL B393, Program W Object Obect Code 5560, Reporting Category 0393. <br /> Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies; and <br /> 2. On January 27, 2014, the CWCB approved a loan request from the BORROWER for the <br /> County Road 52 improvements Project ("PROJECT"). The PROJECT will install drop box <br /> culverts under CR-52 while maintaining the roadway's current grade, reducing the flood <br /> hazard to downstream properties. This loan was approved as a 15 year loan at an <br /> interest rate of 2.50%; and <br /> 3. 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 /> 4. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions. <br /> THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> Loan Contract C150393 <br /> Page 1 of 12 <br />