PROJC01289

• Contract/PO #: C153700
• Contractor Name: Norwood, Town of and Norwood Water Commission
• Contract Type: Loan
• Water District: 60
• County: San Miguel
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

.

__10/1~5 Page 5 of 6

NORWOOD WATER COMMISSION
1130 LUCERNE STREET
P.O. BOX 528
NORWOOD, COLORADO 81423
[phone]

~

RESOLUTION #0627, Series 1995
The Norwood Water Commission

June 1995

WHEREAS, the Norwood Water Commission, P.O. Box 528, Norwood,
Colorado 81423, located in the County of San Miguel in said state
of Colorado, desired to upgrade a water system to provide domestic
water to the residents within the rural area and inside the Town;
and
WHEREAS, the Norwood Water Commission is an Enterprise within
the meaning of 37-45. 1-101 et seq., C.R.S. and Article X, Section
20 of the Colorado Constitution. The purpose of the Norwood Water
Commission Enterprise is to continue to operate the water utilities
of the town and inter alias to participate in the Project; and

WHEREAS, the current system is inadequate to serve the needs
of its residents; and

WHEREAS, the Norwood Water Commission has determined that
continued use of water from the water system now in use is
detrimental to the heal th, safety and wel fare of the Town' s
residents; and

WHEREAS, the Norwood Water Commission wishes to construct the
first phase of a three phase, long range improvement project
consisting of construction of a 30 million gallon raw water storage
reservoir located in San Miguel County, Colorado. The improvements
to the raw water system include repair to its raw water intake
facilities and a new raw water storage reservoir.

WHEREAS, the Colorado Water Conservation Board approved a
loan to the Norwood Water Commission in a maximum amount of Six
Hundred Thirty Thousand Dollars ($630,000.00) project cost
repayable at an interest rate of four-percent (4%) for a duration
of forty (40) years; and

WHEREAS, pursuant to C.R.S. 31-15-302 and 37-46 et seq. , the
Norwood Water Commission has the authority to contract to borrow
money provided by the Colorado Water Conservation Board and the
State of Colorado in the amount of $630,000.00.

WHEREAS, this resolution shall be irrepealable during the
life of the loan.

a. The Norwood Water Commission is authorized to enter
into this contract of said loan with the State, and
execute the contract.