C153630 Contract

• Contract/PO #: C153630
• Contractor Name: Ignacio, Town of
• Contract Type: Loan
• Water District: 31
• County: La Plata
• Bill Number: SB 92-87
• Loan Projects - Doc Type: Contract Documents

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:Department oT Agency Number

WAIER. CON~Q\/ATION. SoAR!:> - f?bA
Contract Routing Number

9 !ie)/;J5"'

CONTRACT AMENDMENT # ~

THIS AMENDMENT, made this 8th day of A\lf>:1lst
1994, by and between the State of Colorado for the use and benefit
of the Department of Natural Resources (Colorado Water Conservation
Board), hereinafter referred to as the State, and the Town of
Ignacio, P.O. Box 459, Ignacio, Colorado 81137, hereinafter
referred to as the Contractor,

FACTUAL RECITALS

Authority exists in the Law and Funds
appropriated, and otherwise made available
unencumbered balance thereof remains available
Number 424, Appropriation Code 804, Contract
C153630; and

have been budgeted,
and a sufficient
for payment in Fund
Encumbrance Number

Required approval, clearance, and coordination has been
accomplished from and with appropriate agencies; and

On October 13, 1992, the Contractor adopted Ordinance No.
133 which, among other things, authorized the pledging of sales tax
revenues of the Contractor to pay the Project Contract and
Promissory Note, dated October 23, 1992 (the "Original Contract"),
between the Contractor and the State; and

Ordinance No. 133 was attached as Exhibit A to the
Original Contract and became part of the contract evidenced thereby
between the State and the Contractor; and

The Contractor is now in the process of refunding its
Sales Tax Revenue Refunding Bonds, Series 1986 (the "Bonds"), in
order to reduce the interest rates on such Bonds and lower the debt
service requirements of the Contractor; and

The Contractor's sales tax pledge to the State to pay its
obligations under the Original Contract is subordinate to the sales
tax pledge held by the holders of the Bonds; and

Any reduction in the debt service requirements of the
Contractor to pay the Bonds will result in an increase in the sales
taxes that are available to meet the obligations of the Contractor
to the State under the Original Contract; and

ATTACHMENT 2