C150160 PIF

• Contract/PO #: C150160
• Contractor Name: Ground Water Management Subdistrict of the Central Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

and financially feasible.
SECTION 3— CWCB's AUTHORITY
Small Project Loan: This loan is made pursuant to the provisions of §§ 37-60-119
and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects
for the benefit of the people of the State, provided that the borrower assures
repayment of that money.
Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General
Assembly
SECTION 4 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED)
At its November 2003 meeting, the CWCB approved a Small Project Loan from the
Construction Fund to the BORROWER in an amount up to $4,950,495 for PROJECT costs
plus $49,505 for the 1% loan service charge for a total loan amount of $5,000,000, with
repayment terms of 2.50% per annum for 30 years.
The BORROWER requested that the total loan amount be limited to $4,513,200
($4,468,515 for PROJECT costs and $44,685 for the 1% loan service charge)
SECTION 5— SCHEDULE OF EXISTING DEBT
BORROWER'S existing debt consists of (1) CWCB Loan Contract C150117 dated
October 1, 2003, for $15,000,000, and (2) Limited Tax Water Conservancy Bonds
(Bonds), principal amount of $10,000,000, dated April 17, 2003. The Bonds will be
defeased on July 23, 2004, simultaneously with the disbursement of the CWCB loan
funds.
SECTION 6 —ADDITIONAL CONTRACT REQUIREMENTS
The BORROWER must provide an appraisal or written opinion of value of water rights
purchased prior to obtaining the CWCB loan funds. The appraisal or opinion of
value will be provided in accordance with Section 7(M) below.
SECTION 7 — CONSTRUCTION FUND PROGRAM PROCEDURES
A. The BORROWER shall employ an engineer, registered in the state of Colorado to
prepare plans and specifications for the PROJECT.
B. The BORROWER'S and the Engineering Consultant's Agreenas and the plans and
specifications must be submitted to the CWCB staff for verification-of compliance
with the terms of this Contract when available prior to bidding. -Any modifications
to the plans and specifications must be approved in writing:by the CWCB staff.
C. For plans and specifications for all jurisdictional dams and reservoirs, 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.
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