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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 $15,579,000 for the WISE PROJECT costs with a <br /> loan service fee of 1% in accordance with CWCB Policy No. 16 resulting in a loan <br /> service fee of$155,790 and a total loan amount of$15,734,790, at an interest rate of <br /> 2.75% per annum for a repayment term of 20 years. There will be a total of four(4) <br /> CWCB contracts. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> The District has $103,703,978 in existing debt tied to its Water Activity Enterprise <br /> revenues. <br /> EXISTING DEBT <br /> Lender Outstanding Current Year Collateral <br /> Balance Debt Service <br /> Revenue Bond and CWRPDA loans total $ 52,218,978 $ 5,576,803 Enterprise Revenues <br /> WTP Loan(Build American Bond) $ 51,485,000 $ 2,940,995 Enterprise Revenues <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 /> approved in writing by the CWCB staff. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined <br /> by § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the <br /> State Engineer's Office prior to construction. <br /> D. The BORROWER shall extend an invitation to CWCB to be present at the bid <br /> opening. <br /> Appendix 1 to Loan Contract CI5041OD <br /> Page 2 of 4 <br />