PROJ00198

• Contract/PO #: C153668
• Contractor Name: Erie, Town of
• Contract Type: Loan
• Water District: 0
• County: Weld
• Bill Number: SB 90-41
• Loan Projects - Doc Type: Contract Documents

,---,.:~
~,~ ..-
, ,:~

RESOLUT~ON 94-03

A RESOLUTION TO ENTER INTO CONTRACT WITH COLORADO WATER
CONSERVATION BOARD TO FINANCE ALLOTMENT IN THE SOUTHERN
WATER SUPPLY PROJECT PIPELINE

BE IT RESOLVED, by the Board of Trustees of the Town of Er ie,
Colorado:

WHEREAS, the Town of Erie and the Erie Water Department (hereinafter
"Erie") have entered into an Allotment Contract with the Northern
Colorado Water Conservancy District for capacity in the Southern
Water Supply Project Pipeline; and

WHEREAS, that Contract was entered into for a capacity of 1.6 cfs
based upon a commitment from the Colorado Water Conservation Board to
issue a loan of $1,544,000 with a loan term of 40 years at an
interest rate of two percent; and

WHEREAS, it is deemed to be in the best interest of the public health
and welfare of the residents of the Town of Erie for Erie to fund the
Project through the Colorado Water Conservation Board under the terms
referenced above.

NOW, THEREFORE, BE IT RESOLVED:

I. Erie shall enter into the attached Project Contract with the
Colorado water Conservation aoard to borrow $1,544,000.

2. Erie shall fix and collect water user charges and fees
sufficient to payoff the loan made under the attached Project
Contract.

3. Erie shall set aside sufficient revenues each year to pay the
annual installment in a special fund separate and apart from
other revenues of Erie.

4. Er ie shall sign a secur i ty interest in the revenues pledged
herein and in Erie's interest in the Allotment Contract in favor
of the state to secure repayment.

5. Erie shall repay the loan to the state.

Approved on this 11-(~ day of -=r(M1u..o.-~j , 1994.

TOWN OF ERIE AND THE
ERIE WATER DEPARTMENT

AD'DVJ.TT)TV ];'