C153598 Contract

• Contract/PO #: C153598
• Contractor Name: Lookout Mountain Water District
• Contract Type: Loan
• Water District: 7
• County: Clear Creek
• Bill Number: HB 91-1006
• Loan Projects - Doc Type: Contract Documents

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Trust Bank: a Commercial Bank located within or

without the State of Colorado, which bank is authorized to

exercise and is exercising trust powers.

2.

proiect Contract and Issuance of the Bond.

In

order to provide funds for the purpose of defraying, in part,

the cost of the Project, the District shall (a) enter into the

Contract with the State in substantially the form presented to

the Board and (b) issue its Lookout Mountain Water District

Water Revenue Bond, Series 1991, in the maximum principal amount

of $600,000, or such lesser amount as shall be determined in

accordance with the Contract by and between the District and the

State concerning the Project, with the Bond to be initially

registered in the name of the State of Colorado for the use and

benefit of the Department of Natural Resources (Colorado Water

Conservation Board).

The Bond shall be issued in registered

form only, without coupons.

The Bond will bear per annum

interest on the outstanding principal amount thereof which has

been paid by the State to or on behalf of the District, at the

rate of five percent (5%) per annum, as determined in accordance

with the Contract with both payments of principal of and

interest on the Bond payable annually as provided in the

Contract.

The Bond will mature not more than thirty-one (31)

years from its date.

The annual payments of principal and

interest throughout the term of the Loan shall be in

substantially equal amounts as provided in the Contract. The

net effective interest rate for the Bond shall not exceed six

percent (6%) per annum.

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