C150243 PIF Documents

• Contract/PO #: C150243
• Contractor Name: Aurora, City of
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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parties agree to amend this Contract, including its appendices where necessary, to
revise the LOAN AMOUNT.
5. Interest Prior to PROJECT Completion. As the Loan funds ar4d# s he
CWCB to the BORROWER, interest shall accrue at the rate .ted in A$ . ,e
CWCB shall calculate the amount of the interest that . •.' • .r'.r to P T'S
substantial completion (as determined by the CWCB) an. ,•t B•,', - .f such
amount. The BORROWER shall repay that amount to the CWCB eit•' r i t. (
days from the date of notification from the CWCB, or, at the BORROWE- :"- r- i
said interest shall be deducted from the final disbursement of loan funds tha
CWCB makes to the BORROWER,to the extent not previously paid by the BORROWER.
6. Documents Prior to Contract Execution. Prior to the execution of this Contract by
the CWCB, the Borrower shall submit the signed Promissory Note, the signed 2007
CWCB Ordinance, certificates of insurance, and the Attorney's Opinion Letter.
7. Attorney's Opinion Letter. The BORROWER shall submit to the CWCB a letter from
BORROWER'S bond counsel stating that it is the attorney's opinion that
a. this Contract has been duly executed by officers of the BORROWER who are duly
elected or appointed and are authorized to execute the Contract and to bind the
BORROWER;
b. the resolutions or ordinances of the BORROWER authorizing the execution and
delivery of this Contract were duly adopted by the governing body of the
BORROWER;
c. there are no provisions in the Colorado Constitution or any other state or local law
that prevent this Contract from binding the BORROWER;
d. this Contract will be valid, binding and enforceable against the BORROWER in
accordance with its terms if entered into by the CWCB before December 31, 2007.
8. Pledge of revenues. The BORROWER irrevocably pledges to the CWCB, for purposes
of repayment of the Loan, the Net Pledged Revenues, as defined in Article 1 of the
General Ordinance, but only to the extent and in the order of priority provided in the
General Ordinance and the 2007 CWCB Series Ordinance, in an amount sufficient to
pay the Debt Service Requirements of the Loan.
a. The Loan, as to all Debt Service Requirements thereof, shall be payable solely
out of the Net Pledged Revenues. The CWCB may not look to the general fund
or any other fund of the City for the payment of the Debt Service Requirements,
except the special funds and accounts pledged therefore. The Loan shall not
constitute a debt or indebtedness or multiple-fiscal year debt or other financial
obligation of the City within the meaning of any constitutional, Charter or statutory
limitation, and the Loan shall not be considered or held to be a general obligation
of the City, but shall constitute the special and limited obligation of the City, acting
by and through the Enterprise. The Loan is not payable in whole or in part from
the proceeds of general property taxes or any other form of taxation, and the full
faith and credit of the City is not pledged for payment of the Loan.
Loan Contract C150243
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