CT2015-140 Contract

• Contract/PO #: CT2015-140
• Contractor Name: Northern Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

BORROWER: NORTHERN WATER AGENCY NAME: COLORADO WATER
HYDROPOWER WATER ACTIVITY CONSERVATION BOARD
ENTERPRISE,A GOVERNMENT-OWNED CONTRACT TYPE: LOAN/PUBLIC
BUSINESS WITHIN THE MEANING OF ARTICLE CMS: 72335/CORE: CT2015-140
X, SECTION 20(2)(D)OF THE COLORADO
CONSTITUTION, ORGANIZED PURSUANT TO
C.R.S. §37-45.1-101 ET SEQ.,AND OWNED
BY THE NORTHERN COLORADO WATER
CONSERVANCY DISTRICT
PROJECT COSTS: $5,084,340
LOAN SERVICE FEE: $50,843
LOAN AMOUNT: $5,135,183
LOAN CONTRACT
(STANDARD CONTRACT—WAIVER#160—APPROVED NOVEMBER 10, 2003)
This contract ("CONTRACT" or "LOAN CONTRACT") is made between the State of Colorado
for the use and benefit of The Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" or"State"), and Northern Water Hydropower Water Activity
Enterprise, a government-owned business within the meaning of Article X, section
20(2)(d) of the Colorado Constitution, organized pursuant to C.R.S. § 37-45.1-101 et seq.,
and owned by the Northern Colorado Water Conservancy District ("BORROWER" or
"ENTERPRISE").
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and
otherwise made available and a sufficient unencumbered balance thereof remains
available for encumbering and subsequent payment of this CONTRACT; and
2. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies; and
3. On May 22, 2014 the CWCB approved a loan ("LOAN") request from the BORROWER to
finance the construction of a 1.2 Megawatt Granby Hydropower Project ("PROJECT").
The total estimated Project cost is $5,669,340. The total loan amount is $5,135,183
which includes a one percent (1%) loan origination fee of $50,843. This loan was
approved as a 30 year loan at the interest rate of 2.0%.
4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains
BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's
authority for making this loan (Section 3), and CWCB Approval and Legislative
Authorization (Section 4), identifying the amount of the loan and the terms of
repayment. The PROJECT SUMMARY also contains sections on BORROWER'S existing
debt, contract requirements, procedures, eligible expenses; disbursement schedule,
and time for performance.
5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this
PROJECT upon mutually agreeable terms and conditions.
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