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<br />.~. <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />DEPARTMENT OR AGENCY NUMBER: PDA <br />ROUTING NUMBER: <br /> <br /> <br />$ 301,50}i <br /> <br />LOAN CONTRACT & PROMISSORY NOTE <br /> <br />THIS CONTRACT, made this !!fJ!;. day of Fe)) (( j (l r ~ 1996, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Reso es, Colorado Water Conservation Board <br />(CWCB), hereinafter referred to as the STATE, and CASlLE PINES NORTH METROPOLITAN DISTRICT and the <br />CASTLE PINES NORTH METROPOLITAN DISTRICT WATER ACTIVITY ENTERPRISE, hereinafter referred to as <br />the BORROWER and/or CONTRACTOR. <br /> <br />FACTUAL RECITALS <br /> <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made <br />available and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, <br />Organization YVYY, Appropriation No. 534, Program WrRC, Object Code'5180, Contract Encumbrance Number <br />C153711; and <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with appropriate <br />agencies; and <br /> <br />3. Pursuant to the provisions of Sections 37-60-119 and 37.60-120,15 C.R.S. (1990), the STATE is <br />authorized to loan money for the construction of water projects for the benefit of the people of the STATE <br />provided that the BORROWER assures repayment of that money; and <br /> <br />4. The Castle Pines North Metropolitan District Water Activity Enterprise (ENTERPRISE) is an enterprise <br />lawfully created and maintained established by a resollJtion of the Board of Directors of the Castle Pines North <br />Metropolitan District, dated August 5, 1994, attached hereto as APPENDIX A. The purpose of the ENTERPRISE, <br />inter alia. is acquisition of water rights, provision of water and wastewater services, and the construction, <br />operation, maintenance, repair and replacement of wa'er and wastewater facilities. <br /> <br />5. The Castle Pines North Metropolitan District is a duly constituted Colorado special district formed <br />in 1984 pursuant to ~ 32-1-1001 et seq. 13 CRS, loc&ted in Douglas County, State of Colorado; and <br /> <br />6. The BORROWER has authority to contract to borrow money pursuant to B 37-45.1-101 et seq. and <br />32-1-1001 et seq., CRS, and a joint resolution has been duly adopted by BORROWER'S Boards of Directors <br />authorizing repayment of the loan to the STATE according to the terms of this contract; and <br /> <br />7. The BORROWER has applied to the STATE for a loan in the amount of $301,500; $201 ,000 is for the <br />purpose of rehabilitating two wells, Well A-l and Well A-2, by installing new pumps, motors, column pipes, <br />power cables, and related appurtenances at a lower depth of approximately 1,550 feet, hereinafter referred to <br />as the PROJECT; and $100,500 is for the purpose of repayment of ~mergency Loan Contract #Cl 53694,dated <br />March 17,1995, and <br /> <br />CASTlE PINES NORTH METRO DISTRICT <br /> <br />Page 1 of ,1 1 <br /> <br />LOAN CONTRACT <br />