C153664 Contract

• Contract/PO #: C153664
• Contractor Name: Fort Lupton, City of & Fort Lupton Water Utility Enterprise
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

FEB-24-'94 THU 17:12 I'

IEL MCCRIN BROWN TEL ND:303-659-f

~034 Pl1l3

FEB-24-94 THU 13:14
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P.02

RESOLUTION NO. ~3-34, AS AM~~P~D

A Rli:60I..O'rION APP1\OVING 'I'M! P:ROJECT CON'I'R1\CT WI'rN 'rRE DEPUTMll:NT OF
Nl'.1'UAAt. R1!:SOtmCli:S (COLORADO WATER CONSERVATION BOUD) AND
AUTKOR!~ING THE MAYOR OF THE CITY 07 fORT LU~TON '1'0 ~XECUT& THE
CONTAACT.

WHE~AS, the city a~d it~ Water utility Ente.p.ie~ bas
6~arked on a new and expanlive proj~ct to aoquire r.w water from
the Northern ColOl:'ado Water Conservancy Oiatriot, through the
Southern Water supply Project; and

WHEREAS, the Department o! Natural Re~Quro.. (coloradO W~tQr
Cone9rvation Board) ~aB committed to loan the city a sum to finance
part of the co~t or this projectl and

WIlEREAS. the Water \]tility Enterprise of the city of Fort
Lupton. color~do has been torm~lly r.co9ni~ed as a qove~n~ent owned
and opet'llted business within the ~Qanin9' ot Article X, Seotion
20(a) (dl ot tho Colorado ConBtitution an~ Section J7-45.l-10l at.
~eq. C.R.S.r and

WHEREAS, the Northe~n Colorado Wate~ condervanoy DiBtriot -
Southern Water SUpPlY project Water Activity Enterprise i8 III DO DO
reco~nized as a qovernment owned hu.inese enterprise' and

WH!REAS, the terme of the Proj Clct Contract have. been reviewed I

and

WHEREAS, enterin9 into the projact contract i~ in tha b~.t
interest or th. City, its Water utility Enterprise and the peoplQ
ot th. city of Fort Luptonl and SO

NoW T~EREFORE be it resolved by the City eounoil of the City
of Fort Lupton. colorado that the Proj ect contract with the
DOpllrtment of Natu.al. ReS01.\l:'CelO (Colorado Water conllervation Board)
ill approved and the city a.nd ita w,-tOI." utility Enhrprbe, llII
borrower, llra a\.lthorhed to enhr into thfe Contract with the State
to borrow the principal Eum or the loan a~ount set forth in the
contract, to fi~ and oollect water ueercharg~e and fees ~\.l!ficient
to payoff the loan made under this contract. to llet ail ide
sufficient revenues each year to pay the annual inBtallment in II
spooial fund separate and apart from other revenues ot the Water
utility In1;Qrprbe. and a\lthQ:,hu the aigninc; of il liO~r1ty
interest in the revenues pled;od in tha contraot and in the
borrower'S interest in the Allot~Qnt contraot in favor or the etato
to secure repayment and to repay the Contrsot loan to the state.
The city alrslldy maintains eaparate financial aooounts ror the
reoeipt and disbursement of funds relate6 to the operation of it.
Water utility Enterprise and will oontinu4l to do so. AS the
governing body for both the City of Fort Lupton and tho Fort Lupton
Water vtllity !nterpr1~e, the City council of the City Of Fort

APPENDIX t--

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