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SECTION 5—SCHEDULE OF EXISTING BONDS <br /> As of the date of the CWCB loan approval, the SUBDISTRICT has an outstanding obligation, <br /> shown in the table below, payable from the ad valorem property taxes. <br /> Lender Approved Current Annual Maturity Collateral <br /> Amount Balance Payment Date <br /> CWRPDA $5,199,125 Not Yet $305,519 2036 Ad valorem property taxes <br /> Disbursed <br /> The SUBDISTRICT must provide, to the CWCB, a certificate from an independent certified <br /> public accountant certifying that, the debt service requirements related to the water portion <br /> of the SUBDISTRICT'S existing debt and the proposed LOAN do not exceed the maximum <br /> annual and total repayment cost parameters approved by the voters of the Subdistrict at an <br /> election held on November 4, 2014. <br /> SECTION 6— Loan Security <br /> The SECURITY provided for this loan, as evidenced by the executed SECURITY AGREEMENT <br /> (Appendix 4) incorporated herein, shall be a pledge of voter approved ad valorem property <br /> taxes and the revenues generated by the imposition by BORROWER of user rates and <br /> surcharges sufficient to make principal and interest payments on the PROMISSORY NOTE <br /> when due, in the event the property tax revenues are not sufficient, with annual financial <br /> reporting. <br /> Section 7-ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> NONE. <br /> SECTION 8—"CONSTRUCTION FUND PROGRAM" PROCEDURES FOR WATER LEASE PROJECT. <br /> A. The BORROWER must submit a copy of the ninety (90) year water supply agreement <br /> between the Roxborough Water and Sanitation District and the City of Aurora, dated <br /> October 15, 2014. <br /> B. The BORROWER shall pay all of the expenses related to the PROJECT when such bills are <br /> due. <br /> SECTION 9—ELIGIBLE EXPENSES FOR WATER LEASE PROJECT. <br /> A. All costs related to the Water Supply Acquisition. <br /> SECTION 10—DISBURSEMENT SCHEDULE <br /> For Water Supply Acquisition: the BORROWER shall prepare a written request for funds that <br /> that sets forth a statement of the PROJECT costs expended for that period and shall <br /> forward said statement to the CWCB. After receipt of the request from the BORROWER, <br /> and review and acceptance of the items therein as eligible expenses, as described above, <br /> the CWCB will pay to the BORROWER the amount set forth in the statement or such portion <br /> as has been approved by the CWCB. Such payment shall be made within thirty (30) days <br /> from the CWCB's approval of each progress report. <br /> Appendix 1 <br /> Page 2 of 3 <br />