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<br />. <br /> <br />. <br /> <br />THIS LOAN AGREEMENT is made and entered into as of July 13, <br />1998 by and between the COLORADO WATER RESOURCES AND POWER <br />DEVELOPMENT AUTHORITY (the "Authority"), a body corpo'rate and <br />political subdivision of the State of Colorado, and CHATFIELD SOUTH <br />WATER DISTRICT (the "Governmental Agency"), a [quasi-municipal <br />corporation and political subdivision] of the State of Colorado. <br /> <br />WITNESSETH THAT: <br />WHEREAS, the United States, pursuant to the federal Safe <br />Drinking Water Act of 1996, assists state and local participation <br />in the financing of the costs of drinking water system projects and <br />said federal Drinking Water Act requires each state to establish a <br />drinking water revolving fund to be administered by an in- <br />strumentality of the state before the state may receive capital- <br />ization grants for such projects and further requires the State to <br />deposit matching funds in the amount of 20% of the amount of the <br />capitalization grant before withdrawals are made from the revolving <br />fund; <br /> <br />WHEREAS, the Authority was created to initiate, acquire, <br />construct, maintain, repair and operate or cause to be operated <br />certain water resource projects and to finance the cost thereof; <br /> <br />WHEREAS, Section 37-95-107.8, Colorado Revised Statutes, <br />has created a Drinking Water Revolving Fund to be administered by <br />the Authority; <br /> <br />WHEREAS, the Authority has determined to loan certain <br />sums to governmental agencies in Colorado to finance all or a <br />portion of the costs of certain water resource projects; <br /> <br />WHEREAS, the Colorado Legislature has approved a Project <br />Eligibility List which includes the Project proposed by the <br />Governmental Agency to be financed hereunder; <br />