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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER(')O P'iJA ( y y) I ,'i(
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<br />$ 10,000,000
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<br />LOAN CONTRACT
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<br />THIS CONTRACT, made this I ~Tk day of ()C -If) P-.pf2., 1999, by and between
<br />the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado
<br />Water Conservation Board, hereinafter referred to as the CWCB and/or STATE, and Thl:l...consolidated
<br />Mutual Water Company, P.O. Box 150068, Lakewood, CO 80215, a Colorado nonpro'fit corporation,
<br />hereinafter referred to as the BORROWER and/or CONTRACTOR.
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<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 in Fund
<br />Number 424, Organization yyyy, Appropriation L99, GBL CMWA, Program WTRC, Object Code
<br />5120, Reporting Category: 0011, Contract Encumbrance Number C150011.
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<br />2. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
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<br />3. Pursuant to the provisions of sections 37-60-119 and 37-60-120, C.R.S. (1998) the STATE is
<br />authorized to loan money for the construction of water projects for the benefit of the people of the
<br />State, provided that the borrower assures repayment of that money.
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<br />4. The BORROWER is a duly constituted Colorado nonprofit corporation governed by Articles 1,21-137
<br />of Title 7, C.R.S., located in Jefferson County, State of Colorado.
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<br />5. The BORROWER has applied to the STATE for a loan to be used for construction of a new raw
<br />water reservoir, hereinafter referred to as PROJECT, at an estimated cost of $21,758,000.
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<br />6. The STATE has reviewed a draft feasibility report compiled by BBC Research & Consulting, which
<br />must be revised and accepted by CWCB staff prior to disbursement of funds. The final revised
<br />feasibility report will be incorporated herein by reference, and, based upon this feasibility report,
<br />the STATE will have determined the PROJECT to be technically and financially feasible.
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<br />7. At its January 27-28, 1999, meeting, the CWCB approved a loan to the SORRoWERfrom the
<br />Construction Fund in an amount up to $10,000,000, approximately 50% of the cost of the
<br />PROJECT, at an interest rate of 4.75% per annum for a duration of ten (10) years.
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<br />8. Pursuant to Senate Bill 99-173, Section 1(f), the Colorado G~peral Assembly authorized CWCS to
<br />loan to the BORROWER an amount not to exceed $10,00'tJ,000.00, hereinafter referred to as
<br />AUTHORIZED LOAN AMOUNT, for the PROJECT. .
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<br />9. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon
<br />mutually agreeable terms and conditions.
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<br />THEREFORE, in consideration of the mutual and dependent covenants contained herein,
<br />the parties agree as follows:
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<br />The Consolidated Mutual Water Company
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<br />Loan Contr.:ll"'t
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