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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c. For any damage to property, the sum of $400,000.00 for
each occurrence.

Said general liability insurance shall name the State as a
co-insured. A copy of the certificate of said liability
insurance must be filed with the State prior to the start of
the operation of the Project system. Such certificate shall
be incorporated herein as part of this Contract.

8. Make the services of said Project available within its
capacity to all qualified persons in the Contractor's service
ared without discrimination as to race, color, religion or
natural origin at reasonable charges (including assessments,
taxes or fees), whether for one or more classes of service, in
accordance wi th a schedule of such charges formally adopted by
the Contractor through its Board of Directors, as may be modified
from time to time. The Contractor may, subject to the approval
of the State, make such modifications to the rate schedule at the
Contractor deems necessary to efficiently and economically
provide for the financial requirements of the system, including
repayment of the State, as long as the cate schedule remains
reasonable and non-discriminatory~

9. Adjust its operating costs and service charges and levy
assessments from time to time as necessary, upon written notice
from the State, to provide sufficient funds for- adequate
operation and maintenance, emergency repair ser-vices,
obsolescence reserves, and debt reserves, and to assure repayment
of the Project loan to the State as provided her-ein.

10. Have its Board of Directors take all necessary actions
consistent therewith to adopt a resolution authorizing the
Contractor to contract this loan debt, and authorizing the
president and the secretary to issue the revenue bond and to pay
the indebtedness. Such resolution shall be attached her-eta as
Exhibit A and included herein. The above conditions must be
performed by the Contractor prior to the State performance under
this Contract.

11. The Contractor, through its Board of Directors, shall
take all necessary actions consistent therewith to impose water
rates and charges to raise sufficient funds to pay this Contract
loan in a timely manner and as required by the terms and
conditions herein to assure repayment of the Project loan to the
State. In the event that the water rates and charges levied by
the Contractor, or the revenues resulting therefrom, are or
become insufficient to assure repayment to the State as required
by the terms and conditions herein, then the Contractor, upon
written notice thereof from the State, shall immediately take all
necessary action consistent with law, including additional rates
and charges, to riiise sufficient revenue to assure repayment of
the ProJect loan to the State.

12.
State may
operations
State.

Provide the State with such periodic reports
require and permit periodic inspections
and accounts by a designated representative

as
of
of

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its
the

13. Repay to the State the total sum of $1,170,900.00,
which includes the Project loan amount with interest at the rate
of 5 percent per annum, said repayment to be made in constant
annual installments of $39,030.00 each, for 30 years, as shown in
Exhibit B, attached hereto and incorporated by reference herein,
which first installment shall be due and payable on the first day
of September, 1992, and yearly thereafter until the entire
principal sum and interest shall have been paid. Said
installment payments shall be made payable to the Colorado Water
Conservation Board, payable at the offices of said Board in
Denver, Colorado.

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