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<br /> AGENCY NAME: Water Conservation Board
<br /> DEPARTMENT OR AGENCY NUMBER: PDA
<br /> ROUTING NUMBER p(v a/(b
<br /> $ 5,500,000
<br /> LOAN CONTRACT AND PROMISSORY NOTE
<br /> THIS CONTRACT, made this 7th day of August, 1995, by and between the STATE OF COLORADO for the
<br /> use and benefit of the Department of Natural Resources, Colorado Water Conservation Board, hereinafter referred
<br /> to as the STATE, and CITY OF FORT MORGAN, COLORADO, hereinafter referred to as the CITY, and CITY OF FORT
<br /> MORGAN, COLORADO, WATER WORKS AND DISTRIBUTION ENTERPRISE, 710 E. Railroad, P.O. Box 100, Fort
<br /> Morgan, Colorado 80701, hereinafter referred to as the BORROWER and/or CONTRACTOR.
<br /> FACTUAL RECITALS
<br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available
<br /> and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Organization
<br /> YYYY, Appropriation 516, Program WTRC, Object Code 5120, Contract Encumbrance Number C153701; and
<br /> 2. Required approval, clearance, and coordination have been accomplished from and with appropriate
<br /> agencies; and
<br /> 3. Pursuant to the provisions of §37-60-119 and 37-60-1 20 15 CRS (1990),the STATE is authorized to loan
<br /> money for the construction of water projects for the benefit of the people of the STATE provided that the BORROWER
<br /> assures repayment of that money; and
<br /> 4. The CITY is a duly constituted home rule city pursuant to §31-1-202 and Article XX of the Colorado
<br /> Constitution, in Morgan County in the State of Colorado; and
<br /> 5. The BORROWER is an enterprise within the meaning of §37-45.1-101 et seq. CRS and Article X, Section
<br /> 20 of the Colorado Constitution created pursuant to the CITY'S plenary powers and recognized by the City Council's
<br /> resolution dated November 2, 1993, and Ordinance No. 788, dated December 7, 1993, both attached hereto as
<br /> Appendix A. The purpose of the BORROWER inter alia, is to finance certain water activities of the CITY including,
<br /> without limitation, all water related activities related to the water proj •• and
<br /> 6. Pursuant to Article 20, Section 6 of the Colorado Constit n of it• -ule Charter, the CITY has
<br /> the authority to enter into this contract provided that its city council duly a• %-nce authorizing execution
<br /> and delivery of this contract; and ` .
<br /> 7. Pursuant to Appendix A, the BORROWER has authority to c. t a r*• to •. ro•t oney provided that its
<br /> governing body duly adopts an ordinance authorizing repayment of the loan j e T T `.ccording to the terms of
<br /> this contract; and
<br /> 8. Pursuant to §31-35-401 et seq CRS, the CITY has authority to fix and charge rates, fees, and other
<br /> charges for water sold by the CITY, which rates, fees and other charges can be used for repayment of the STATE
<br /> according to the terms of Appendix A and this contract; and
<br /> 9. The CITY applied to the STATE for a loan to be used to help finance the CITY'S share of the cost of
<br /> constructing phase 2 of the Southern Water Supply Project, hereinafter referred to as the PROJECT; and
<br /> CITY OF FORT MORGAN, COLORADO, WATER
<br /> WORKS AND DISTRIBUTION ENTERPRISE Page 1 of 10 LOAN CONTRACT
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