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<br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: 0 IO:)C! <br /> <br />$ 25,.000 <br /> <br />lF1EAS1[]B'I][lL][TY REPORT lLOAN CONTRACT <br /> <br />This Ocmut:Jr.olCIt, made this c1t:J- day of DcJo/3li 1997, <br />by and between the State of Colorado for the use and benefit of the Department of <br />Natural Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to <br />as the STATE, and the ARKANSAS GROUNDWATER USERS ASSOCIAiidF.l (AGUA), a Colorado <br />nonprofit corporation, 100 West First, Manzanola, CO 81058 hereinafter referred to as <br />the BORROWER and/or CONTRACTOR. <br /> <br />IFA.CTUAL RlECUTAlLS <br /> <br />A. Authority exists in the law, and funds have been budgeted, appropriated and <br />otherwise made available and a sufficient unencumbered balance thereof remains <br />available for payment in Fund Number 424, Organization YYVY, Appropriation Code <br />640, Program WTRC, Object Code 5120, Reporting Category 3800, Contract <br />Encumbrance Number C153800. <br /> <br />B. Required approval, clearance, and coordin~n have been accomplished from and <br />with appropriate agencies. !t: ~ <br /> <br />C. Pursuant to the provisions of ~~ 19 0-122(1)(c), C.R.S. (1990 and <br />Supp. 1996), the STATE is authorize to~ or the construction of certain <br />water projects for the benefit of the peo State of Colorado, and to expend <br />moneys for feasibility studies on such proj ~~ded that the borrower assures <br />repayment of that money. ~_ <br /> <br />D. The BORROWER is a duly constituted Colorado non-profit corporation located in Otero <br />County, Colorado. <br /> <br />E. The BORROWER has applied to the STATE for a loan to conduct a feasibility study <br />(hereinafter referred to as STUDY) to evaluate alternatives for a substitute supply plan <br />that would allow the BORROWER'S members to continue to use their wells, which draw <br />water from aquifers tributary to the Arkansas River Basin, in compliance with the <br />Amended Rules and Regulations Governing the Diversion and Use of Tributary <br />Ground Water in the Arkansas River Basin, Colorado (hereinafter referred to as <br />PROJECT), at a cost of approximately $45,000. <br /> <br />F. At its September 7, 1995 meeting, the CWCB approved a loan to the BORROWER in an <br />amount not to exceed $25,000 at an interest rate of 4% per annum and for a term of <br />10 years to finance the costs of the STUDY. <br /> <br />Feasibility Report Loan Contract <br /> <br />Page 1 of 11 <br />