CT2015-070 Contract - Laserfiche WebLink

Home Browse Search

SECTION 4-BOARD APPROVAL At its May 14, 2013 meeting the CWCB approved a Small Project Loan, from the Construction Fund to the BORROWER, in an amount up to $7,100,000 for PROJECT costs not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in accordance with CWCB Policy No. 16 resulting in a loan origination fee of $71,000 and a total loan amount of $7,171,000 at an interest rate of 2.75% per annum for a repayment term of 15 years. SECTION 5—SCHEDULE OF EXISTING DEBT The BORROWER has been approved for two additional loans with the Colorado Water Conservation Board. Contract #C150352, in the loan amount of $1,010,000.00, with annual payments of $83,081.76 with an interest rate of 2.75% per annum and a term of 15 years and Contract #C150393, in the loan amount of $818,100.00, with annual payments of $66,075.04 with an interest rate of 2.50% per annum and a term of 15 years. SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS The Authority will not seek, and CWCB will not disburse, loan funds until the Authority has the right of possession to all property necessary for this CONTRACT (CWCB Loan Contract No. C150353). If land is to be acquired through condemnation, this will be evidenced by an Order of Possession. If land is to be acquired through negotiated real estate contract(s), this will be evidenced by a binding real estate contract between the Authority and the property owner. SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES A. The BORROWER shall employ an engineer, registered in the state of Colorado to prepare plans and specifications for the PROJECT. B. Engineering contracts, plans and specifications must be submitted to the CWCB staff for verification of compliance with the terms of this CONTRACT when available prior to bidding. Any modifications to the plans and specifications must be approved in writing by the CWCB staff. C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State Engineer's Office prior to construction. D. The BORROWER shall extend an invitation to CWCB to be present at the bid opening. E. The BORROWER shall contract for the construction of the work with responsible and capable Construction Firms, which said Construction Firms shall be selected by the BORROWER and found acceptable by the CWCB staff. F. The BORROWER must provide a copy of the executed construction contract Appendix 1 to Loan Contract C150353 Page 2 of 4