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<br />, AGENCY NAME: Water Conservation Board
<br /> AGENCY NUMBER: PDA
<br /> ROUTING NUMBER: 99 PDA 00040
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<br />$500,000
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<br />LOAN CONTRACT
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<br />THIS CONTRACT, made this ;q'tt.day of <;JnA [1./,) 1999 by and between
<br />the State of Colorado for the use and benefit of the Department of Natural Resources,
<br />Colorado Water Conservation Board, hereinafter referred to as CWCB or the STATE, and the
<br />Chatfield South Water District, a quasi-municipal corporation, p, 0, Box 474, Littleton,
<br />CO 80160-0474, hereinafter referred to as the BORROWER and/or CONTRACTOR,
<br />
<br />FACTUAL RECITALS
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<br />A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in
<br />Fund Number 424, Organization YYYV, Appropriation L98, GBL CSWD, Program WTRC,
<br />Object Code 5180! Contract Encumbrance Number C153837,
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<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies,
<br />
<br />C. Pursuant to the provisions of ~~ 37-60-119 and 37-60-120, C,R.S" the STATE is authorized to
<br />loan money for water projects for the benefit of the people of the STATE, provided that the
<br />borrower assures repayment of that money,
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<br />D. The BORROWER is a special district duly formed under and governed by Article 1 of Title 32,
<br />C.R.S" located in Douglas County, Colorado,
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<br />E, The BORROWER has applied to the STATE for a loan to finance the purchase of certain water
<br />rights (hereinafter referred to as PROJECT) at a cost of approximately $650,000, as part of a
<br />larger project involving the construction of a domestic water system, The estimated cost of
<br />Phase I of this system is $1,156,000"
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<br />F, At an election held on November 4, 1997, the BORROWER'S electorate voted in favor of the
<br />BORROWER incurring PROJECT-related debt and increasing taxes to repay that debt. The
<br />Order and Decree Creating District in Civil Action No, 97CV444, entered by the Douglas
<br />County District Court on November 18, 1997, which includes the ballot results from said
<br />election, is incorporated herein by reference,
<br />
<br />G. The STATE has reviewed a feasibility report compiled by Joseph Rottman, P,E, and Thomas
<br />Barbour, and an evaluation of the PROJECT water rights both of which are incorporated herein
<br />by reference, and, based upon the feasibility report and the evaluation, the STATE determined
<br />the PROJECT to be technically and financially feasible,
<br />
<br />H, At its November 1997 meeting, the CWCB approved a loan to the BORROWER in the amount
<br />of Five Hundred Thousand Dollars ($500,000) at an interest rate of 4,75% per annum for a
<br />
<br />Chatfield South Water District
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