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<br />./ <br />" <br />,. <br />, <br /> <br />. <br /> <br />\"':'--'>>. <br />~.~,) <br /> <br />OEPARTMENT OR AGENCY NAME <br />Water Conservation Board <br />DEPARTMENT OR AGENCY NUMBER <br />PDA <br />ROUTING NUMBER <br />9~O/73 <br /> <br />$ 94,000 <br /> <br />LOAN CONTRACT <br /> <br />iCfCf5 <br />THIS CONTRACT, made this / g day ol -.1994, by and between the <br />State of Colorado for the use and benefit of the Department of ural Resour s, Colorado Water Conservation <br />Board ICWCB), hereinafter referred to as the STATE, and the T N OF MONUMENT, 166 Second Street, P. O. <br />Box 325, Monument, Colorado 80132, hereinafter referred to as the BORROWER and lor CONTRACTOR. <br /> <br />RECITALS <br /> <br />1. 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 Fund Number 424, <br />Organization YYYY, Appropriation 513, Program WTRe, Object Code 5120, Contract Encumbrance Number <br />C. 1631. <i('.5 ; and <br /> <br />2. Required approval, clearance, and coordination have been accomplished' from and with appropriate <br />agencies; and <br /> <br />3. Pursuant to the provisions of Sections 37-60-119 and 37-60-120, 15 CRS 11990). the STATE is <br />authorized to loan money for the construction of water projects for the benefit of the people of the STATE <br />provided that the BORROWER assures repayment of that money; and <br /> <br />4. The BORROWER is a statutory town in EI Paso County in the State of Colorado, pursuant to Section <br />31-1-203 CRS; and <br /> <br />5. The BORROWER applied to the STATE for a loan to be used to help finance part of the cost of replacing <br />municipal well #2, hereinafter referred to as the PROJECT; and <br /> <br />6. The BORROWER held an eiection on April 5, 1994, and voters approved borrowing $94,000 at a rate <br />not to exceed 4% with a maturity date not to exceed 30 years for the purpose of improving the town's water <br />system; and <br /> <br />7. The CWCB approved at their November 9, 1993, meeting, a loan to the BORROWER in an amount not <br />to exceed Ninety Four Thousand Dollars ($94,000), hereinafter referred to as MAXIMUM LOAN AMOUNT, at an <br />interest rate of four percent (4%) per annum, and for a duration of thirty (30) years; and <br /> <br />8. Pursuant to Section 1, Ch. 265 of Colo. Sess. Laws, 1994 (Senate Bill 94-029). the Colorado <br />General Assembly authorized CWCB to loan to the BORROWER an amount not to exceed Ninety Four Thousand <br />Dollars ($94,000) for a term of thirty (30) years for the construction of the PROJECT; and <br /> <br />TOWN OF MONUMENT <br /> <br />Pag.lofl1 <br /> <br />LOAN CONTRACT <br />