C150100 Contract Paid in Full

• Contract/PO #: C150100
• Contractor Name: East Dillon Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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PROJECT SUMMARY- BORROWER - CONTRACT NO. C150100
SECTION 1 -BORROWER INFORMATION
Name: East Dillon Water District
Address: 101 S. 7th Street, P.O. Box 627, Frisco, CO 80443-0627
Phone Number: 970-668-5655
E-mail address: [e-mail]
Type of Entity: East Dillon Water District (EDWD) is a special district
formed pursuant to Title 32, C.R.S. that provides water
and sanitary sewer service to customers within its service
area.
SECTION 2— PROJECT DESCRIPTION
A. Description of PROJECT: The Project involves purchase of (1) a portfolio of Vidler
Water Company senior water rights with a total decreed consumptive use of 101
acre-feet, (2) the right to use five acre-feet of storage water in Dillon Reservoir,
(3) ten wells located in the Soda Creek alluvium, and (4) other assets, all of
which are located in Summit County and are more particularly described in a
purchase agreement between the BORROWER and the Vidler Water Company
dated December 15, 2000, and an Assignment Agreement between the
BORROWER, the Vidler Water Company, and the City of Golden dated December
15, 2000, at an estimated total cost of$3,400,000,.
B. Description of Feasibility Study: The CWCB has reviewed a -a '.,'Iity study
report on the PROJECT compiled by Bishop-Brogden Associates 1 • :st Dillon
Water District Final Feasibility Study for the CWCB Lo- . A .: ic'. "o',, dated ril
2002, which is incorporated herein by reference, and,' ,- .-l" ,= the f sl
report, the CWCB determined the PROJECT to be , .re ally a i ci
feasible. .,
SECTION 3—CWCB'S AUTHORITY
Construction Fund: This loan is made pursuant to th r�s of §§ 37-60-119
and 37-60-120, C.R.S., under which the CWCB is authori loan money for water
projects from the CWCB Construction Fund for the benefit of the people of the State,
provided that the borrower assures repayment of that money.
SECTION 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION(IF NEEDED)
A. At its November 2001 meeting, the CWCB approved a loan to the BORROWER in
an amount up to $2,550,000, not to exceed 75% of the cost of the PROJECT, at an
interest rate of 4.25% per annum for a repayment term of 30 years to finance the
PROJECT purchases and to refinance $300,000 of eligible PROJECT costs already
paid for by the BORROWER.
B. Pursuant to Bill 02-1152, Section 1(e), the Colorado General Assembly authorized
CWCB to loan to the BORROWER an amount up to$2,550,000 for the PROJECT.
SECTION 5—SCHEDULE OF EXISTING DEBT
The Borrower has no additional debt that relies on the same source of revenues
for repayment as the CWCB loan.
Appendix 1 to Loan Contract C150100