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from the CWCB Construction Fund for the benefit of the people of the state, provided <br /> that the borrower assures repayment of that money. <br /> Pursuant to CWCB Projects Bill (HB14-1333), the Colorado General Assembly <br /> authorized CWCB to loan moneys for the authorized WISE Projects, up to a total <br /> amount of$43,430,000.00. <br /> SECTION 4- BOARD APPROVAL <br /> At its May 22, 2014 meeting the CWCB approved loans from the Construction Fund, <br /> to the BORROWER, in an amount up to $9,828,000 for PROJECT costs with a loan <br /> service fee of 1% in accordance with CWCB Policy No. 16 resulting in a loan service <br /> fee of$98,280 and a total loan amount of$9,926,280 at an interest rate of 3.00% per <br /> annum for a repayment term of 30 years. There will be a total of four(4) CWCB <br /> contracts. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> As of the date of this LOAN CONTRACT, the DISTRICT has outstanding the following obligations <br /> payable from the net revenue of the System, which obligations constitute PARITY OBLIGATIONS <br /> under the LOAN RESOLUTION. <br /> The District has $15,997,440 in outstanding debt tied to its Water Activity Enterprise revenues. <br /> EXISTING DEBT <br /> Original Current Annual Maturity <br /> Lender Collateral <br /> Balance Balance Payment Date <br /> CWRPDA 2002 $ 7,045,000 $ 3,515,000 $ 467,949 8/1/2023 Water Revenues <br /> CWRPDA 2005 $ 4,800,000 $ 3,215,000 $ 342,322 8/2/2026 Water Revenues <br /> Wells Fargo 2010 <br /> Refunding Note $ 10,335,213 $ 9,267,440 $ 753,649 12/1/2030 Water Revenues <br /> Totals $ 22,180,213 $ 15,997,440 $ 1,563,920 <br /> SECTION 6—ADDITIONAL CONDITIONS &CONTRACT REQUIREMENTS <br /> NONE. <br /> SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES <br /> A. The BORROWER shall employ an engineer, registered in the state of Colorado to <br /> prepare plans and specifications for the PROJECT. <br /> B. Engineering contracts, plans and specifications must be submitted to the CWCB <br /> staff for verification of compliance with the terms of this CONTRACT when available <br /> prior to bidding. Any modifications to the plans and specifications must be <br /> Appendix 1 to Loan Contract C150411C <br /> Page 2 of 4 <br />