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<br />AGENCY NAME: Water Conservation Board
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<br />DEPARTMENT OR AGENCY NUMBER: PDA
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<br />ROUTING NUMBER:
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<br />1(/ / .2..
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<br />$ 3011S0}l
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<br />LOAN CONTRACT & PROMISSORY NOTE
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<br />. THIS CONTRACT, made this !.!::fJ.!:. day of Feh r I Jar ~ 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 CASTLE PINES NORTH METROPOLITAN DISTRICT and the'
<br />CASTLE PINES NORTH METROPOLITAN DISTRICT WATER ACTIVITY ENTERPRISE, hereinafter referred to as
<br />the BORRowERand/or CONTRACTOR.
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<br />FACTUAL RECITALS
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<br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
<br />available and a sufficient unencumbered belance thereof remains available for payment in Fund Number 424,
<br />Organization YVYY, Appropriation No. 534, Program WTRC, Object Code '5,180, Contract Encumbrance Number
<br />C153711;and ' "
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<br />2. Required approval, clearance, and coordination have be
<br />agencies; and
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<br />
<br />hed from and with appropriate
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<br />C.R.S. (1990), the STATE is
<br />it of the people of the STATE
<br />
<br />'0,.
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<br />4. The Castle Pines Nort
<br />lawfully created and maintained es
<br />Metropolitan District, dated August
<br />" inter alia. is acquisition of water righ
<br />" operation, maintenance, repair and repl
<br />
<br />,vity Enterprise (ENTERPR'SE) is an enterRrise
<br />utio the Board of Directors of the Castle Pines N;;ith
<br />ereto as, APPENDIX A. The purpose of the ENTERPR'SE, .
<br />ov's'on water and wastewater services, and the construction,
<br />of water and wastewater facilities.
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<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. i:3 CRS, located in Douglas County, State of Colorado; and
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<br />6. The BORROWER has authority to contract to borrow money pursuant to ~ ~37.45,1.101 et seq. and
<br />'32-1.1001 et seq" CRS, and a joint resolutio'n has been duly adopted by BORROWER'S Boards of Directo'rs
<br />authorizing repayment of the loan to the STATE according to the terms of this contract; and
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<br />, 7. The BORROiN1;!lJ},sS applied to the STATE for a loan in the amount of $301,500; $201 ,000is forthe
<br />purpose of rehabilitati1t~. wells, Well A,'1 and Well A-2, by installing new pumps, motors, column pipes,
<br />power cables, and relatecfappurtenances at a lower depth of approximately 1.550 feet, hereinafter referred to
<br />as the PROJECT: and $100,500,js for the purpose of repayment of Emergency Loan Contract #C 1 53694. dated
<br />.March 17. 1995, and
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<br />CASTLE PINES NORTH MeTRO DISTRICT
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<br />Page 1 of 11
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<br />LOAN CONTRACT
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