C150200 Feasibility Study - Laserfiche WebLink

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I~ I I I I I I I I I I I I I I I I I I . Funding Agreement c This Agreement is made this _day of 2004, between The Sheek Ditch Company (the Company), a Colorado non profit corporation, and the undersigned members of the Company, (the Funding Members). Whereas, The Bylaws of the Company require that "The Company may not undertake additions and/or improvements to the Ditch without approval in advance by the Membership. The Membership shall be presented with a written resolution defining the addition and/or improvement to be voted on and also presented with a Funding Agreement signed by the Member or Members that agree to pay for the addition and/or improvement, if approved by the Membership. The Funding Agreement shall set forth details of the proposed work, the estimated cost of the work, the method for sharing the cost, including any overruns that may occur, and the proposed schedule for col)duct of the work by the Company", and /: f:", . Whereas, The Natural Resource Conservation Service.g[ the US Department of Agriculture has included the Ditch in the Mancos vall~1salinity Control Project and the Company and NRCS have entered into a Conservation Program Application/Contract (the Contract) under which th"Et-.eompany could become ,(j'> eligible for funding and other assistance to upg~~the Ditch to a pipeline, ~.{lcj:f~. .,/ ~. '.(.," ,,?~ ' Whereas, The undersigned ~un.ding Me~~rs de~ire that .the Comp'~~ a'~~t the NRCS proposal for the pipeline to be Installed In the DItch for delty~~ irrigation water to the Members of the Company and receive tI1Er~~Si~~ assistance and 75% co-funding offered by NRCS, and ,// )'J;~\ ~V .<;;:~<\\ ~ Whereas, The Colorado Water Co~servation Board (th~f+) has committed to make a loan to the Co~ance the compan~re of cost for the pipeline to be installed b~d L co~'{ Whereas, The Funding Members desire that the Company accept the loan from the CWCB to finance the Company's shate of the pipeline cost. .r~I~~~~-~~u~~~