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<br />.-~ <br />I <br /> <br />Town of Rangely <br />Emergency Loan Contract <br /> <br />........... ". <br />'-" '--: ", <br />"', "'-. , :; <br />" <.oJ <br />""-. <br /> <br />10. (Levy Water User Charges and Fees as necessary for operations, <br />maintenance, reserves, and debt reserves): The Borrower shall, pursuant to its <br />statutory Authority, adjust its operating costs and service charges from time to time as <br />necessary to provide sufficient funds for adequate operation and maintenance, emergency <br />repair services, obsolescence reserves, and debt reserves. <br /> <br />II. (Provide reports and allow periodic inspections): The Borrower <br />shall provide the State with such periodic reports as the State may require and permit <br />periodic inspections of its operations and accounts by a designated representative of the <br />State. <br /> <br />12. (Adhere to applicable laws): The Borrower shall strictly adhere to all <br />applicable Federal, State, and local laws and regulations that have been or may hereafter be <br />established. <br /> <br />B. The State agrees as follows: <br /> <br />" . <br /> <br />c ,. ' <br />{"I {( <br />I. (Agree to loan money to the Borrower to caver eligible project <br />construction costs): The State agrees to loan to, t!lc 'Borrower an amount not to <br />exceed that specified in the Promissory Note of fi:lis cOlltract. Said amount shall be made <br />available to the Borrower in accordance with the '~oll~,.~ing terms and conditions: <br />c ~ <br /> <br />I a. The Borrower shall prepare a statement'?f'thi costs of project construction and <br />shall forward said statement to the State. . , , , ~ <br />, <br /> <br />, , <br /> <br />I b. Upon receipt and approval by the State cf su.:1J. statement, the State will, within <br />thirty (30) days from the approval of such statemen(,'pay over to the Borrower the amount <br />of the statement or such portion thereof as has been approved by the State. <br /> <br />I c. Project construction costs eligible for financing by the State shall be limited to the <br />cost of: <br /> <br />(1) Preparing final designs and specifications for the project. <br /> <br />(2) Preparing bid and cons!ruction contract documents. <br /> <br />(3) Preparing environmental assessment or environmental impact statements, <br />and otherwise complying with the Federal National Environmental Policy Act. <br /> <br />(4) Complying with all Federal, State, and local regulatory requirements, <br />including the obtaining of all required permits. <br /> <br />Page ~ of 12 Pages <br />