PROJ00111

• Contract/PO #: C153694
• Contractor Name: Castle Pines North Metro District
• Contract Type: Loan
• Water District: 8
• County: Douglas
• Bill Number: HB 95-1155
• Loan Projects - Doc Type: Contract Documents

.."

,
.',

(
\ :.. 4

\

DEPARTMENT OR AGENCY NAME
Water Conservation Board
DEPARTMENT OR AGENCY NUMBER
PDA
ROUTING NUMBER
QS64:3o

$ 100,500

EMERGENCY LOAN CONTRACT

. THISCONTRACT,madethis ),")., dayof '--vii ru flh 1995,by and between the State
of Colorado forthe use and benefit of~rtment ~orado Water Conservation Board
(CWCB); hereinafter referred to as the STATE'. and CASTLE PINES NORTH METROPOLITAN DISTRICT and the
CASTLE PI.NES NORTH METROPOLITAN DISTRICT WATER ACTlVITY ENTERPRISE, hereinafter referred to as
the BORROWER and/or CONTRACTOR,
~

....

RECITALS

.:;:..:,....:.....f">.'.

1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
available and a sufficient unencumbered balance thereof temains available for payment in Fund Number 424,
Organization YVYV, Appropriation No. EIA, Program WlRC, Object Code 51BO, Contract Encumbrance Number
C/~:JC.9c1 ; and

2. Required approval, clearance, and coordination have been accomplished from and with appropriate
agencies;. and.

3. Pursuantto the provisions of Sections 37-60-119 and 37-60-120, 15 CRS (1990) the STATE is
authorized to loan money for the construction of water projects for the benefit of the people of the STATE
provided that the BORROWER assures repayment of that money; and

4. In accordance with Section 37-60-122.61!i CRS, the STATE is authorized to loan money from the
Emergency Infrastructure Account for projects which it determines are necessary to avoid unreasonable risk of
injury or damage to human health or well being or to property or crops when the Colorado Water Conservation
Board determines that the emergency condition is not tile result of negligence in the operation or maintenance
of the infrastructure, that the emergency project provides a partial. temporary, or permanent solution to the
emergency condition, and that the viability or success of the emergency project is not dependent upon further
appropriations or -loans; and

5: The Castle Pines North Metropolitan District Water Activity Enterprise (ENTERPRISE) is an enterprise
within the meaning of ~37-45.1-101 et seq, CRS and Article X, Section 20 of the Colorado Constitution as
recognized by a resolution of the Board of Directors of the Castle Pines North MetropOlitan District, dated August
5, 1994, attached hereto as Appendix A. The purpose of the ENTERPRISE inter alias, is acquisition of water
rights, provision of water. and wastewater services and the construction~ operation, maintenance, repair and
replacement of water and wastewater facilities,

6. Pursuant to H37-45.1-101 et seq, and 32-1-1000et seq"CRS, the BORROWER has authority to
contract to borrow money and a resolution has been duly adopted by BORROWER'S Board of Directors authorizing
repayment of the loan to the STATE according to the terms of the contract; and

7. The Borrower's water supply is provided by the pumping of wells A-1, A-2. and A-3. The District's
monitoring of these wells during the last two years indicated that in well A-3. the water level of the Arapahoe
aquifer had-droppedbefow ~1evel <:>f the pump, and that the water level in well A-2 had dropped to only 20

CASTLE PINES NORTH METRO DISTRICT

Page 1 of 11

LOAN CONTRACT