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<br />BORROWER: CITY OF VICTOR, acting by and
<br />through the City of Victor, Colorado Water
<br />and Wastewater Enterprise
<br />Contract No. C150081
<br />Loan Amount $600,000.00
<br />
<br />Agency Name: Water Conservation Board
<br />Agency Number PDA f 1 .tL ~..... 7
<br />Routing Number 66l- JJ 'V V0CU
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<br />LOAN
<br />
<br />CONTRACT
<br />
<br />THIS CONTRACT, made this 1st day of August 2001, by and between the State of Colofado
<br />for the use and benefit of the Department of Natural Resources, Colorado Water Conservation
<br />Board ("CWCB" and/or the "STATE"), and the CITY OF VICTOR acting by and through the City of
<br />Victor, Colorado Water and Wastewater Enterprise, 500 Victor Avenue, P.O, Box 86, Victor, CO
<br />80860, ("BORROWER" and/or "CONTRACTOR"),
<br />
<br />FACTUAL RECITALS
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<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 as
<br />follows: Fund Numbef 424, Organization YYYY, Appropriation Code 541, GBL V081, Program
<br />WTRC, Object Code 5510, Reporting Category 0081, Contract Encumbrance No. C150081,
<br />
<br />2. Required approval, clearance, and coordination have been, accomplished from and with
<br />appropriate agencies.
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<br />3. State's authority for making this loan: Pursuant to the provisions of SS 37-60-119 and
<br />37-60-120, C.R.S., the STATE Is authorized to loan money for water projects for the benefit of
<br />the people of the State, provided that the borrower assures repayment of that money.
<br />
<br />4. The Project Summary, attached as Appendix 1 and incorporated herein, contains BORROWER
<br />Information (Section 1) and the PROJECT Description (Section 2). Board approval and
<br />legislative authorization, If required
<br />
<br />a, At its January 25-26, 1995 meeting, the CWCB approved a loan to the BORROWER In an
<br />amount up to $600,000.00, not to exceed 75% of the cost of the PROJECT, at an intefest
<br />rate of 3.75% per annum for a repayment term of 20 years.
<br />
<br />b. Pursuant to HB. 95-1155, Section 1 (1) 21, the Colorado General Assembly authorized
<br />CWCB to loan to the BORROWER an amount up to $600,000,00 ("AUTHORIZED LOAN
<br />AMOUNT") for the PROJECT.
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<br />5. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT
<br />upon mutually agreeable terms and conditions.
<br />
<br />THEREFORE, in consideration of the mutual and dependent covenants contained herein, the
<br />parties agree as follows:
<br />
<br />A. LOAN PROVISIONS
<br />
<br />1. Promissory Note Provisions. The STATE agrees to loan to the BORROWER an amount not to
<br />exceed the AUTHORIZED LOAN AMOUNT with terms of repayment as set forth in the Promissory
<br />Note, attached hereto as Appendix 2 and incorporated herein,
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