FINANCIAL_SERVICESAPPROVED

Town of Paonia Board Meeting Agenda April 24, 2025

Paonia Approves $10.5M CWRPDA Loan Package for Water System

Not to exceed $4,500,000 (Leveraged Loan); Not to exceed $3,000,000 (Direct Loan); Not to exceed $3,000,000 (BIL PF Loan)Town of PaoniaCOLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITYApril 24, 2025

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Description

The Town of Paonia Board of Trustees approved Ordinance No. 25-03, authorizing three loans totaling up to $10.5 million from the Colorado Water Resources and Power Development Authority for water system improvement projects, with maturities not extending beyond 2048. The loan package includes a leveraged loan, direct loan, and a principal forgiveness loan, supporting tank repairs, piping replacement, and monitoring enhancements.

Contract Details

Contract Amount

Not to exceed $4,500,000 (Leveraged Loan); Not to exceed $3,000,000 (Direct Loan); Not to exceed $3,000,000 (BIL PF Loan)

Vendor

COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY

Agency

Town of Paonia, CO

Contract Type

FINANCIAL_SERVICES

Document Date

April 24, 2025

Contract Term

Final maturity not to extend beyond December 31, 2048; Delegation of execution effective for one year after adoption (April 22, 2025)

Renewal Date

2048-12-31

Renewal Info

No automatic renewals; delegation for modification or execution effective for one year from ordinance adoption. Bonds remain irrepealable until repaid. Loan and repayment schedules to be finalized per Board delegation.

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