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<br />r' ~rMENT OR AGENCY NUMBER
<br />.,~.I 34-04-00
<br />CONTRACT ROUTING NlIrotBF.R
<br />J"
<br />$164,321.25
<br />
<br />
<br />.
<br />
<br />LOAN REPURCHASE
<br />CONTRACT
<br />
<br />THIS CONTRACT. =d, Ihi, 9' tJ;:. d,y of ~~'/A_* 198 ~,bv ,nd b"wm Ih.
<br />513ft of Colorado for Th~ use jlnd ben~(jl of tne DerllrTmen f' \ Na tural Resources
<br />(Colorado Water Conservation Board),
<br />h~reinafler referred 10 a~ th~ Slale. and '2 The North Poudre rrriqation Comoany;
<br />p. O. Box 100, Wellington, CO 80549,
<br />herl"inafler referred 10 as the conTt'aclor./Contractor.
<br />
<br />WHEREAS. authoriTy I"Jdsls in the Law and Funds have been bUdgeTed&-.-'l,,:,opn I
<br />"""bl' ,"d , ,uJr.","I. n"~",umb..,d b,I,"" Ih...of "'m,'"' {~I;~~...tiaynt~i!... '," Fu
<br />ell Account Number.5iL13X.. Conlnel Encumbrance Number h '~\ and ~{,':-',\
<br />ABL Account No. i.!:1..J.J..Q, Org. Unit 7-77- .1..7;\1 :~~','\
<br />I I d' ~~ .\ I' hIi-
<br />WHEREAS. requirrd 3PI"rnv:l . c e:m'lOce and coor loatio '. b~n acc,~m~ IS ~~....
<br />d ~ ."", ("
<br />lIgencief: an '. '<:\ ;'_"-, \_/~
<br />"".', ,'-. [C",
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<br />WHEREAS, the U.S. Depar ./l~Of 'he Jrtt'erior (Interior) was
<br />directed by the Budget Recon.:tiiatio '",Act of 1987 to sell the
<br />assets of its Bureau of Reel t'~:\ 'on (Bureau) Small Project Loan
<br />Program; and
<br />
<br />
<br />d wjl" appropriale
<br />
<br />WHEREAS. the ~ureau has determined that there are eight
<br />COlorado borrower~ with small project loans to be included in
<br />the loan sale; an~
<br />
<br />WHEREAS. the porrowers were Offered the first opportunity
<br />by Interior to pr~pay their outstanding loanS at an
<br />advantageous di5C~unt rate reSUlting in significant potential
<br />savings to those porrowers provided that the outstanding loans
<br />were prepaid prial to August 18. 1988; and
<br />
<br />WHEREAS. the >988 General Assembly enacted Senate Bill 30.
<br />which authorizes ~he State to loah funds from the ColoradO
<br />Water Conservatiop Board Construction Pund to eight named
<br />COlorado borrower~. including the Contractor. to repurcha$e
<br />from the Bureau tve outstanding loan the Contractor has with
<br />the Bureau; and
<br />
<br />WHEREAS. Senate Bill 30 also authorizes the State to loan
<br />to tne Contractor one hundred percent (100\) of the amount
<br />nece~sary to repurchase the outstanding loan provided that the
<br />State determines that this is necessary to make it financially
<br />possible for the ~ontractor to repurchase the _loan; and
<br />
<br />WHEREAS. the Contractor has an ou~sta 9
<br />Hundred Seventy-SiX Thousand One Hund~T y-
<br />and Thirty-Five cents ($676,134.35): ~
<br />';,>._ {''l.-
<br />~HEREAS. the contractor make nnual ~ep~Yment of Nineteen
<br />Thousand Nine Hundred Dollars an . Cent' (.fI9. 900.00), !las a
<br />sati6fact~ry record of _~il~..' ep 1~A, '.".' . ,..:~'nd is scheduled to
<br />complete Its repayment _~"non\i-1i 2..9. ; atld
<br />
<br />WHEREAS. the contract'kf\ls rE!:~ei:~d an offer to repay its
<br />outstanding loan from Inte~f~~ at a discount rate of thirteen
<br />and one one hundredths perc~~t#(13.01\), reg~iring a prepayment
<br />of One Hundred Sixty-Four Tnousand Three Hundred TwentY-One
<br />Dollars and Twenty-Five Cents ($164.321.25); and
<br />
<br />
<br />of SiX
<br />Dollars
<br />
<br />, WHEREAS. the contractor finds that the prepayment discount
<br />results in an advantageous loan refinancing opportunity. and
<br />therefore it desires to obtain Construction Fund loan
<br />assistance from the State to prepay its Interior loan; and
<br />
<br />395-5.701-1014
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