C150062 Paid in Full Documents

• Contract/PO #: C150062
• Contractor Name: Town of Monument
• Contract Type: Loan
• Loan Projects - Doc Type: Repayment Information

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BORROWER: Town of Monument, Colorado, Agency Name: Water Conservation Board
acting by and through the Town of Agency Number PDA
Monument, Colorado, Water Enterprise Routing Number: 02 PDA ()co S-L/
Contract No. C150062
Loan Amount $2,081,000
LOAN CONTRACT
THIS CONTRACT, made this 1st day of March 2002, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" and/or the "STATE"), and the Town of Monument, Colorado,
acting by and through the Town of Monument, Colorado, Water Enterprise, P.O. Box 325,
166 2nd Street, Monument, CO 80132 ("BORROWER" and/or "CONTRACTOR").
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available for payment as
follow: Contract Encumbrance No. C150062, Fund Number 424, Organization YYYY,
Appropriation Code S01, GBL M062, Program WTRC, Object Code 5510, Reporting Category
0062.
2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
3. CWCB's authority for making this loan: STTFPBA: Pursuant to the provisions of §§ 37-60-
119, 37-60-120 and 39-29-109(1)(a)(I), C.R.S. , the CWCB is authorized to loan money from
the Severance Tax Trust Fund Perpetual Base Account for water projects for the benefit of the
people of the CWCB, provided that the borrower assures repayment of that money.
5. The Project Summary, attached as Appendix 1 and incorporated herein, contains
BORROWER Information (Section 1) and the PROJECT Description (Section 2).
6. Board approval and legislative authorization, if required, is included in Board Approval and
Legislative Authorization (Section 3) of the Project Summary.
7. The CWCB now desires, by this contract, to loan money to the BORR WE lor this,PR . ECT
upon mutually agreeable terms and conditions.
PF
THEREFORE, in consideration of the mutual and dependent covenants corritatj ' the'
parties agree as follows:
A. LOAN PROVISIONS
1. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an amount not
to exceed the AUTHORIZED LOAN AMOUNT and the Borrower agrees to repay the loan in
accordance with the terms of repayment as set forth in the Promissory Note, attached hereto
as Appendix 2 and incorporated herein.
2. Interest Prior to Project Completion. As the loan funds are disbursed by the CWCB to the
BORROWER, interest shall accrue at the rate set by the CWCB for the loan. The CWCB shall
calculate the amount of the interest that accrued prior to completion of the Project and the
Town of Monument Page 1 of 9 Loan Contract