Laserfiche WebLink
BORROWER: COTTONWOOD WATER AND AGENCY NAME: COLORADO WATER <br /> SANITATION DISTRICT ACTING BY AND CONSERVATION BOARD/PDA <br /> THROUGH ITS COTTONWOOD WATER CONTRACT TYPE: LOAN/PUBLIC <br /> ENTERPRISE CWCB CMS: 70629/CORE: CT2015-102 <br /> CONTRACT No. C150408A <br /> PROJECT AMOUNT: $378,000 <br /> LOAN SERVICE FEE: $3,780 <br /> LOAN AMOUNT: $381,780 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT is made between the State of Colorado for the use and benefit of The Department of <br /> Natural Resources, Colorado Water Conservation Board ("CWCB" or "State"), and Cottonwood Water <br /> and Sanitation District, 2 Inverness Drive East, Suite 200, Englewood, CO, 80112, a Colorado Title <br /> 32 Special District, acting by and through its Cottonwood Water Enterprise, ("BORROWER" or <br /> "DISTRICT"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made <br /> available and a sufficient unencumbered balance thereof remains available for encumbering and <br /> subsequent payment of this CONTRACT; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and with appropriate <br /> agencies; and <br /> 3. For the purposes of this loan contract, the District's participation in the Water Infrastructure and <br /> Supply Efficiency Project (WISE) to reduce the District's dependence on non-renewable water <br /> sources, and specific to the ECCV Pipeline Purchase is defined as the "PROJECT". The District's <br /> total participation cost is estimated to be $4,960,000. On May 22, 2014 the CWCB approved a total <br /> loan amount not to exceed $4,508,640, for the District's participation cost of WISE. The loan <br /> amount for this contract, for the ECCV Pipeline Purchase, is $381,780 which includes a one <br /> percent (1%) loan service fee of$3,780 at an interest rate of 3.0%for 30 years;and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains BORROWER <br /> Information (Section 1), the PROJECT Description (Section 2), CWCB's authority for making this loan <br /> (Section 3), and CWCB Approval and Legislative Authorization (Section 4), identifying the amount <br /> of the loan and the terms of repayment. The PROJECT SUMMARY also contains sections on <br /> BORROWER'S debt, collateral, procedures and eligible expenses; and <br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this PROJECT upon <br /> mutually agreeable terms and conditions. <br /> Loan Contract C150408A <br /> Page 1 of 12 <br />