Laserfiche WebLink
debt service on all outstanding indebtedness having a lien on the TAx REVENUES <br /> including this loan, and all required deposits to any reserve funds required by this <br /> CONTRACT or by the lender(s) of any indebtedness having a lien on the TAx REVENUES. <br /> The analysis of revenues shall be based on the BORROWER'S current rate structure or the <br /> rate structure most recently adopted. No more than 10% of total revenues may originate <br /> from tap and/or connection fees. <br /> SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> NONE. <br /> SECTION 7—ELIGIBLE EXPENSES. The following items are eligible for loan disbursements. <br /> A. Borrower's pro-rata share of the amount that is repaid to the United States <br /> Treasury for the proportion of the joint cost of Chatfield Project construction <br /> related to the 20,600 AF of reallocated water storage, as computed by the <br /> Assistant Secretary of the Army (Civil Works), and documented in the Record of <br /> Decision, Chatfield Reservoir Colorado Storage Reallocation Project, dated May <br /> 29, 2014. <br /> B. Borrower's cost of storage expense incurred prior to the Effective Date of this <br /> Contract in accordance with the approval of this loan. <br /> SECTION 8—DISBURSEMENT SCHEDULE <br /> For PROJECT costs: The Chatfield Reservoir Mitigation Company, Inc. ("MITIGATION <br /> COMPANY") shall prepare a written request for funds which shall include copies of <br /> the MITIGATION COMPANY'S board approval and copies of the backup for the request <br /> for funds including, but not limited to invoices. After receipt of the written request <br /> from the MITIGATION COMPANY and review and acceptance of the items therein as <br /> eligible expenses, as described above by the CWCB, the CWCB will pay to the <br /> escrow agent designated by BORROWER on its behalf into its "Individual Escrow <br /> Account" (as defined in the escrow agreement between the escrow agent, <br /> BORROWER and MITIGATION COMPANY) the amount set forth in the request or such <br /> portion that has been approved by the CWCB. Such payment shall be made <br /> within thirty (30) days from the CWCB's approval of each request. <br /> SECTION 9—TIME FOR PERFORMANCE <br /> PROJECT BEGINS: Upon Effective Date of this CONTRACT (the date this CONTRACT <br /> is signed by the State Controller or his designee). <br /> PROJECT END DATE: Four (4) years from the Effective Date of this CONTRACT. <br /> [THE REST OF THIS PAGE INTENTIALLY LEFT BLANK] <br /> Appendix 1 <br /> Page 3 of 3 <br />