CT2018-1335 Contract

• Contract/PO #: CT2018-1335
• Contractor Name: Church Ditch Water Authority
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

CHURCH DITCH WATER AUTHORITY
RESOLUTION NO. 01 -2017
A RESOLUTION APPROVING A LOAN CONTRACT WITH THE
COLORADO WATER CONSERVATION BOARD TO FINANCE DITCH
REHABILITATION IN THE AMOUNT OF S3.62 MILLION
WHEREAS, the Authority applied and received approval from the Colorado Water
Conservancy Board for a loan in the amount of approximately$3.62 million for a thirty(30)year
term at a fixed interest rate of 3.0% (the "CWCB Loan") to finance needed improvements and
repairs the Authority plans to complete by Spring of 2019;
WHEREAS, use of the CWCB Loan is regulated by a loan contract with the Colorado
Water Conservancy Board,which loan contract requires Authority approval; and
WHEREAS,at the duly noticed regular meeting of the Authority held on August 14,2017,
at the Authority's administrative offices, 14025 W. 82"d Avenue, Arvada, Colorado, 80005, the
Authority considered the CWCB loan contract,CWCB Loan Contract No.CT2018-1335 for Ditch
System Improvements,provided by the State of Colorado that memorializes the CWCB Loan and
all associated repayment obligations (the "Loan Contract").
BE IT RESOLVED BY THE CHURCH DITCH WATER AUTHORITY,THAT:
Section 1. The Authority hereby approves the Loan Contract in substantially the form
attached hereto as Exhibit 1 in a total loan amount not to exceed$3,615,000.00 and authorizes the
Board President to execute the Loan Contract as well as any other required or associated
documents.
Section 2. The Authority hereby confirms it will perform and observe all of the terms,
conditions' and obligations of CWCB Loan Contract No. CT2018-1335 for Ditch System
Improvements and will pledge the collateral needed to assure repayment of the CWCB Loan.
DATED this 14th day of August,2017.
Tamara Moon,President
ATTEST:
Na an cCoy, eneral Manager
APPENDIX 4
08/03/17
O:I USERSICDIRES120171APPROVING CWCB CONTRACT-R080117.DOCX