PROJ00532

• Contract/PO #: C153588
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 89-85
• Loan Projects - Doc Type: Contract Documents

-',
r...::';
. ~ I'-'!
. '

~-
t. ..\
" "

Seven Hundred Forty-One Dollars ($290,741) together
with the amount of Tw~nty-Two Thousana six Hundred
Eighty-Three Dollars ($22,683) previously advance by
the state for the feasibility study of Barnes Meadow
Dam, for a total principal repayment cost not to exceed
Three Hundred Thirteen Thousand Four Hundred Twenty-
Four Dollars ($313,424), plus accumulated interest
calculated using acce~ted accounting principles at a
rate of five percent (5%) per annum, said repayment to
be made in constant annual installments for a period of
twenty (20) years.

a. For the total principal repayment cost of
Five Hundred Three Thousand Eight Dollars and
Eighty-Eight Cents ($503,008.88), the annual
payment of principal and interest shall be Twenty-
Five Thousand One Hundred Fifty Dollars and Forty-
Four Cents ($25,l50.44) each for twenty (20)
years, as shown in Attachment B, attached hereto
and incorporated by reference herein, which first
installmentshal~ be due and payable the first day
of the month next succeeding the month in which
the State determines that the project has been
substant~ally co~pleted, and yearly thereafter
until' the entire principal sum shall have been
paid. However, in the event the Contractor does
not draw funds commencing on the date specified in
paragraph D.1.a. below, the obligation to repay
shall be postponed for the same number of months
as the Contractoc delays in drawing funds. Said
installment payments shall be made payable to the
Colorado Water conservation Board, payable at the
offices of said aoard in Denver, Colorado. The
Contractor pledges its full faith and credit in
support of this obligation and warrants that it
has taken all steps necessary to pledge its full
faith and credit for this obligation.

0.1. The state agrees that it shall:

1. Loan to the Contractor for the purpose of
this contract an amount not to exceed Two Hundred
Ninety Thousand Seven Hundred Forty-One Dollars
($290,741). said Two Hundred Ninety Thousand
Seven Hundred Forty-One Dollars ($290,741) shall
be made available to the Contractor in accordance
with the following terms and conditions.

a. Beginning with the monthly period
commencing with the date of this contract and
for every month thereafter until said project
has been completed, the Contractor shall

Page ~ of Z Pages