My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
PROJC00368
CWCB
>
Loan Projects
>
Backfile
>
2001-3000
>
PROJC00368
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/7/2013 3:19:25 PM
Creation date
10/6/2006 12:06:25 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153639L
Contractor Name
New Cache La Poudre Irrigating Company
Contract Type
Loan
Water District
3
County
Larimer
Bill Number
HB 93-1273
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
58
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />..---_/-...., <br />".' I <br /> <br />State, to provide sufficient funds for adequate operation and maintenance, emergency <br />repair services, obsolescence reserves, and debt reserves, and to assure repayment of <br />the project loan to the State as provided herein. Should the stockholders fail to set any <br />assessment, the Contractor shall establish an adequate assessment for purposes of this <br />contract pursuant to Section 7-41-104(2), CRS (1986). , <br /> <br />. ,-I. <br />10. Pursuant to its By-Laws and to its Articies of Incorporation, have its <br />Board of Directors take all necessary actions consistent therewith to adopt an order or <br />a resolution authorizing the Contractor to contract this loan debt, and authorizing the <br />President and the Secretary to pay the indebtedness. Such orders shall be attached <br />hereto as Exhibit C and included herein. The Contractor, through a majority vote of its <br />Board of Directors, shall also authorize the deed of trust security interest required by <br />the State in paragraph B.14. below. Such authorization shall be attached hereto and <br />incorporated herein as Exhibit D. The above conditions must be performed by the <br />Contractor prior to the State performance under this contract. <br /> <br />11. Pursuant to Section 7-42-104, CRS (1986), and to its By-Laws, take all <br />necessary actions consistent therewith to levy assessments to raise sufficient funds to <br />pay this contract loan debt in a timely manner and as required by the terms and <br />conditions herein to assure repayment of the project loan to the State. In the event <br />that the assessment(s) levied by the Contractor, or the revenues resulting therefrom, are <br />or become insufficient to assure repayment of the State as required by the terms and <br />conditions herein, then the Contractor, upon written notice thereof from the State, shall <br />immediately take all necessary action consistent with its By-Laws and Section 7-42-104, <br />CRS (1986), including, but not limited to additional assessmentS, to raise sufficient <br />revenue to assure repayment of the project loan to the State. <br /> <br />12. Provide the State with such periodic reports as the State may require and <br />permit periodic inspections of its operations and accounts by a designated <br />representative of the State. <br /> <br />13. Repay to the State the total sum of One Million One Hundred Twenty <br />Thousand One Hundred Seventy-Five Dollars ($1,120,175), which includes the project <br />loan amount and the Nine Thousand-Five-Hundred Seventy-Seven Dollars and Fifty <br />Cents ($9,57750) feasibility report amount, together with interest at the rate of four <br />percent (4%) per annum, said repayment to be made in constant annual installments of <br />Forty-Four Thousand Eight Hundred Seven Dollars ($44,807) each for Twenty-Five <br />(25) years, as shown in Exhibit E, attached hereto and incorporated by reference <br />herein, which first installment shall be due and payable on the first day of the month <br />next succeeding the month in which the State determines that the project has been <br />substantially completed, and yearly thereafter until the entire principal sum and interest <br />shall have been paid. Said installment payments shall be made payable to the <br />Colorado Water Conservation Board, payable at the offices of said Board in Denver, <br />Colorado. <br /> <br />Page ~ of 12 Pages <br />
The URL can be used to link to this page
Your browser does not support the video tag.