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BORROWER: CENTENNIAL WATER AND AGENCY NAME: COLORADO WATER
<br /> SANITATION DISTRICT CONSERVATION BOARD
<br /> REQUESTED LOAN AMOUNT: $28,245,000 CONTRACT TYPE: LOAN/PUBLIC
<br /> LOAN SERVICE FEE: $282,450 CMS NUMBER: 72445/C150405B
<br /> TOTAL LOAN AMOUNT: $28,527,450 CORE NUMBER: CT2016-2055
<br /> LOAN CONTRACT
<br /> This contract ("CONTRACT") is made between the State of Colorado for the use and benefit
<br /> of The Department of Natural Resources, Colorado Water Conservation Board ("CWCB"
<br /> or "State"), and Centennial Water and Sanitation District, 62 West Plaza Drive,
<br /> Highlands Ranch, Colorado, 80129 a Colorado Title 32 Special District ("BORROWER" or
<br /> "DISTRICT").
<br /> FACTUAL RECITALS
<br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and
<br /> otherwise made available and a sufficient unencumbered balance thereof remains
<br /> available for encumbering and subsequent payment of this CONTRACT; and
<br /> 2. Required approval, clearance, and coordination have been accomplished from and
<br /> with appropriate agencies; and
<br /> 3. For the purposes of this LOAN CONTRACT, the District's participation in the Chatfield
<br /> Reallocation Project, specific to Chatfield Reallocation Project, for engineering,
<br /> recreation facilities construction, on-site mitigation, off-site mitigation, and mitigation
<br /> monitoring as defined in the Agreement Between the Department of the Army and the
<br /> Colorado Department of Natural Resources for Reallocation of Water Storage Space,
<br /> Recreation Modifications, and Compensatory Mitigation Features at the Chatfield Dam
<br /> and Reservoir, Colorado dated October 9, 2014, incorporated herein by reference, is
<br /> defined as the "PROJECT". The District's total participation cost is estimated to be
<br /> $48,888,000. On May 22, 2014 the CWCB approved a total loan amount not to
<br /> exceed $44,440,000 for the District's participation cost of the Chatfield Reallocation
<br /> Project. This is part of a multi-year and multi-phased project. The total loan amount,
<br /> for this CONTRACT, for these Project activities is $28,527,450, which includes a loan
<br /> one percent (1%) loan service fee of $282,450 at an interest rate of 3.00% for 30
<br /> years; and
<br /> 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains
<br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's
<br /> authority for making this loan (Section 3), and CWCB Approval and Legislative
<br /> Authorization (Section 4), identifying the amount of the loan and the terms of
<br /> repayment. The PROJECT SUMMARY also contains sections on BORROWER'S debt,
<br /> collateral, procedures and eligible expenses; and
<br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this
<br /> PROJECT upon mutually agreeable terms and conditions.
<br /> THEREFORE, in consideration of the mutual and dependent covenants contained
<br /> herein, the parties agree to incorporate these recitals as part of the agreement of the
<br /> parties and as follows:
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