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C150153 Contract
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C150153 Contract
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Last modified
1/7/2013 8:15:53 AM
Creation date
7/9/2008 9:28:13 AM
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Template:
Loan Projects
Contract/PO #
C150153
Contractor Name
Dolores Water Conservancy District
Contract Type
Loan
Water District
71
County
Dolores
Loan Projects - Doc Type
Contract Documents
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<br /> <br />DOLORES WATER CONSERVANCY DISTRICT <br />RESOLUTION No. 04-02 <br /> <br />RESOLUTION APPROVING THE LOAN CONTRACT FOR A LOAN OF UP TO $598,058 <br />FROM THE COLORADO WATER CONSERVATION BOARD TO THE DOLORES WATER <br />CONSERVANCY DISTRICT, ACTING BY AND THROUGH THE DOLORES WATER <br />CONSERVANCY DISTRICT WATER ACTIVITY ENTERPRISE, TO CONSTRUCT A NON- <br />POTABLE LAWN AND GARDEN IRRIGATION WATER (SECONDARY WATER) <br />DELIVERY SYSTEM IN THE TOWN OF DOVE CREEK, COLORADO <br /> <br />WHEREAS, the Dolores Water Conservancy District (the "District") is a water <br />conservancy district, located in Dolores and Montezuma Counties, Colorado, established <br />pursuant to and governed by Colorado statute, C.R.S. S 37-45-101, et seq., to conserve and <br />develop the water resources of the Dolores River and its tributaries in Southwest Colorado; and <br /> <br />WHEREAS, the Dolores Water Conservancy District Water Activity Enterprise (the <br />"Enterprise") is an enterprise within the meaning ofC.R.S. S 37-45.1-101 et seq., and Article X, <br />Section 20 of the Colorado Constitution, and was established by Resolution No. 93-02 of the <br />District, dated December 14, 1993; and <br /> <br />WHEREAS, the District, acting by and through the Enterprise, applied to the Colorado <br />Water Conservation Board (the "CWCB") for a loan to finance a portion of the costs for the <br />construction of a non-potable lawn and garden irrigation water (Secondary Water) delivery <br />system in the Town of Dove Creek, Colorado (the "Project"). The total cost of the Project is <br />estimated to be $981,450, for which the District received a grant of $300,000 in federal funds <br />from the Colorado Division of Local Affairs. <br /> <br />WHEREAS, at its July 29, 2003, meeting, the CWCB approved a loan to the District, <br />acting by and through the Enterprise, in an amount not to exceed $892,137 or up to ninety <br />percent (90%) of the cost of the Project, whichever is less, at an interest rate of three percent <br />(3%) per annum for a term of up to 10 years to finance the costs ofthe Project; and, <br /> <br />WHEREAS, the District, acting by and through the Enterprise, now desires to borrow <br />$598,058 ("Loan Amount") for the Project upon the terms and conditions set forth in the Loan <br />Contract #C150153 ("Loan Contract") and the CWCB now desires to loan money to the District, <br />acting by and through the Enterprise. <br /> <br />NOW, THEREFORE, BE IT RESOLVED THAT: <br /> <br />1. The District, acting by and through the Enterprise, shall have the Project <br />completed in accordance with a "Feasibility Report Dove Creek Colorado, Secondary Water <br />Supply System dated March 2003, updated August 2003". The CWCB has reviewed and <br />approved the Feasibility Report which is on file in the office ofthe CWCB. <br /> <br />Appendix 3b to Loan Contract C150153 <br />
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