C153701 PIF Contract

• Contract/PO #: C153701
• Contractor Name: Fort Morgan, City of
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

• 0
Contract as Appendix F. The CITY and the BORROWER acknowledge that the STATE shall
perfect its security interest in the CONTRACT RIGHTS by filing a UCC-1 Form with the
Colorado Secretary of State.
d. In Paragraphs A.5, A.6, A.7, B.3 and C.7, all references to "the Allotment Contract" are
amended to read "the 1994, 1995, and 1998 Allotment Contracts."
e. The first sentence of Paragraph A.9.a is amended by the addition of the following:
...., the BORROWER'S City of Fort Morgan Water Works and Distribution Enterprise
Water Revenue Bonds, Series 1997 ("1997 Bonds"), additional parity bonds issued to
the AUTHORITY, CWCB and RURAL DEVELOPMENT for • • e completion of the
BORROWER'S water supply project, and repayment .1 ' r: i :ank under the
Reimbursement Agreement, all of which shall ha •arity sta ■ loan.
f. Paragraph A.9 is amended by the addition of th , • ` 'w n
The STATE, the CITY and the BORROWER recogn'z h o WER has also
pledged said water revenues to repay the BORROWER'S 1 ds and the
BORROWER'S obligations under its Reimbursement Agreement with State Street Bank
described below, and will pledge said water revenues to repay additional parity bonds
issued to the AUTHORITY, CWCB and RURAL DEVELOPMENT for financing the completion of
the BORROWER'S water supply project. The BORROWER has provided the STATE with a
Coverage Certificate from an independent certified public accountant, attached as
Attachment B and incorporated herein, certifying that the BORROWER'S rate schedule will
generate revenues in an amount sufficient to pay annual operating and maintenance
expenses, make deposits to all required reserve funds, and make all payments on both
existing and proposed bonds. In addition, the BORROWER has obtained a letter of credit
backing the 1997 Bonds from State Street Bank and entered into a Reimbursement
Agreement with State Street Bank, which Agreement is incorporated herein by reference.
Based on the BORROWER'S substantial compliance with this contract, the Coverage
Certificate and the STATE'S review of documents relating to issuance of the 1997 Bonds,
including, but not limited to, the Reimbursement Agreement, the Official Statement and
the Trust Indenture, the STATE has consented to parity status of the 1997 Bonds, the
BORROWER'S obligations under the Reimbursement Agreement and the loans from the
AUTHORITY, CWCB and RURAL DEVELOPMENT, with this loan, evidenced by the Consent to
Issuance of Parity Bonds attached as Attachment C and incorporated herein.
g. Paragraph D.7 is amended by the addition of the following:
Pursuant to CRS 24-30-202.4 (as amended), the state controller may withhold debts
owed to state agencies under the vendor offset intercept system for: (a) unpaid child
support debt or child support arrearages; (b) unpaid balance of tax, accrued interest, or
other charges specified in Article 22, Title 39, CRS; (c) unpaid loans due to the student
loan division of the department of higher education; (d) owed amounts required to be
paid to the unemployment compensation fund; and (e) other unpaid debts owing to the
state or any agency thereof, the amount of which is found to be owing as a result of final
agency determination or reduced to judgment as certified by the controller.
4. The effective date of this Amendment is the date first written above.
5. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency, variance, or
contradiction between the provisions of this Amendment and any of the provisions of the
City of Fort Morgan, Colorado&City of Fort Morgan,
Colorado,Water Works and Distribution Enterprise Page 4 of 5