PROJ01948 ‎(3)‎

• Contract/PO #: C153794
• Contractor Name: Colorado Water Protective and Development Association
• Contract Type: Loan
• Water District: 0
• Loan Projects - Doc Type: Contract Documents

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AGENCY NAME: Water Conselj"ation Board
AGENCY NUMBER: PDA !

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ROUTING NUMBER: I
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$ 60).0100

lFIEAS][]B\][lL][TY RIEPORT lLOAN CONTRACT
This OontJr<<llct, made this day of I .1997,
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by and between the State of Colorado for the use and benefIt of the qepartment of
Natural Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to
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as the STATE, and COLORADO WATER PROTECTIVE AND DEVELOPMENT ASSOCIATION, a
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Colorado nonprofit corporation, PO Box 604, La Junta, CO 81050, hereinafter referred to
as the BORROWER and/or CONTRACTOR.

JFACTUAL RECRTALS

A. Authority exists in the law, and funds have been budgeted, app~opriated and
otherwise made available and a sufficient unencumbered balance thereof remains
available for payment in Fund Number 424, Organization VYYY, Appropriation Code
640, Program WTRC, Object Code 5120, Reporting Category 3~56, Contract
Encumbrance Number C153794.

B. Required approval, clearance, and coordination have been accomplis~ed from and
with appropriate agencies. I
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C. Pursuant to the provisions of ~~ 37-60-119 and 37-60-122(1)(c), C.R.S. (1997), the
STATE is authorized to loan money for the construction of certain water ptojects for the
benefit of the people of the State of Colorado, and to expend moneysJ for feasibility
studies on such projects, provided that the borrower assures repa~ment of that
money. I

D. The BORROWER is a duly constituted Colorado non-profit corporation loc11ated in Otero
County, Colorado.

E. The BORROWER applied to the STATE for a loan to conduct a feasibility study
(hereinafter referred to as STUDY) of altematives for a substitute supply plan to replace
the BORROWER'S pumping depletions on the Arkansas River, at an estimated total cost
of up to $75,000. I

F. At its November 1993 meeting, the GWCB approved a loan to the BORROWER in an
amount not to exceed $75,000 at an interest rate of 4% per annum tb finance the
costs of the STUDY. The CWCB approved a loan for 100% of the costs of the STUDY
because the BORROWER had already spent $1'50,000 of its own funds on feasibility
work related to the substitute supply plan.

G. In 1997, the BORROWER submitted an updated loan application and scoJe of work for
the STUDY that indicated that the estimated cost of the STUDY now I ranges from
$52,500 to $57,500. Consequently, the STATE and the BORROWER hav~ agreed on a
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Feasibility Report Loan Contract

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