C150335 PIF Documents

• Contract/PO #: C150335
• Contractor Name: Cemter of Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

SECTION 4-BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION(IF NEEDED)
At its July 18, 2012 meeting, the CWCB approved a Small Project Loan from the
Construction Fund to the BORROWER in an amount up to $404,000 for PROJECT costs, not
to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% n accordance
with CWCB Policy No. 16, at an interest rate of 2.50% per annum for a repaymeit term of
10 years.
SECTION 5—SCHEDULE OF EXISTING DEBT
1. A loan from the Colorado Water Conservation Board, in the original principal
amount of $454,500, interest at 3.50% per annum, and erm of 10 years, of
which $375,659.62 remains outstanding as of August 2' ` 4 , t al annual
payment of$54,649.70 and a maturity date of October 20
2. A loan from the Frida Bargas and Frida Wahl Tru- , o ','nal pn 'amount
of$2,347,638.80, of which $1,196,287 remains ou '' ng ``.: I s,: . s 20, 2012,
with an annual payment of$225,932 and a maturity date o 41 •
Borrower's share of the annual payment is $32,285.70. The balance• nual
payment is made by the Centennial Water and Sanitation District.
The Promissory Note is non-recourse financing secured by Deed of Trust on the
Randall and Sessions Ditch water rights. The property is not pledged as collateral
for the CWCB Loan.
SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS
None
SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES
A. The BORROWER shall employ an engineer, registered in the state o Cobrado to
prepare plans and specifications for the PROJECT.
B. The BORROWER'S and the Engineering Consultant's plans and specifications must
be submitted to the CWCB staff for verification of compliance with the ternhs of this
Contract when available prior to bidding. Any modifications to tha plans and
specifications must be approved in writing by the CWCB staff.
C. For plans and specifications for all jurisdictional dams and reservoir, as defined
by § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the
State Engineer's Office prior to construction.
D. CWCB staff must be present at bid opening and must approve the award of the
construction contract.
E. The BORROWER shall contract for the construction of the work with responsible and
capable Construction Firms, which said Construction Firms shall be selected by
the BORROWER and found acceptable by the CWCB staff.
Appendix 1 to Loan Contract C150335
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