PROJC01858 ‎(2)‎

• Contract/PO #: C153594
• Contractor Name: Handy Ditch Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Bill Number: HB 91-1006
• Loan Projects - Doc Type: Contract Documents

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,::Nr OR AGENCY :\JUMBER
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, . LL. PROJECT
FU . and ~r~~Is~;J Note

THIS CONTRACT. made this ;(f/--t'2; day of I; 19 ~ . by and between the
State of Colorado for the use and bendit of the Depai1ment 0 j Natural Resources,
(Colorado Water Conservation Boar ),

hereinafter I't'ferred 10 as the State. and'2 The Handv Ditch COTIlT)anv.
P. o. Box 1079, Berthoud, CO 80513,

hereinafter referred to as the contractor I Con trac,tor or Borrower.

CONTRAL; ROUTING NUMBER
:LOr--l-~
$304;000

WHEREAS. authority exists in the Law and Funds have been budgeted. appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available for paymenl in Fund Number 462
Appro. OQ3, Org. Unit YY;YY, ProgramW'TRC,
Contract Encumbrance No. --C 1. '::;-35'1' r.:r-,
WHEREAS. re4uired approval. clearance and coordination has been accomplished from and with appropriate
agencies: and

WHEREAS, pursuant to the provisions of 37-60-119 and
37-60-120, Colorado Revised statutes, the State is authorized to
loan money for the construction of water projects for the
benefit of the people of the State provided that the Contractor
assures repayment of that money; and

WHEREAS, the Contractor is a duly constituted ditch company
in the State of Colorado and it wishes to rehabilitate the Handy
(Welch) Dam West (No.1), hereinafter sometimes called the
project, for the benefit of the ditch company members in Larimer
County, Colorado, at an estimated cost of Three Hundred Ten
Thousand Dollars ($310,000)j and

WHEREAS, on October 23, 1990, the parties entered into a
feasibility report contract, attached hereto as Exhibit B. A
feasibility investigation of said project was conducted and the
State has determined that such a project is technically and
financially feasiblej and
;}
WHEREAS, on U:>-<--!? ~ V , IPf/, the State and the
Contractor entereq1int a termination contract, attached hereto
as Exhibit A, which terminated the Exhibit B feasibility report
contract previously entered into between the parties; and

WHEREAS, the termination contract provides that the
contractor will repay to the state the principal amount of six
Thousand Dollars ($6,000) under the terms and conditions of that
Exhibit A termination contract in consideration of the State's
partial financing of the feasibility report for the project
pursuant to the Exhibit B feasibility report contract; and

WHEREAS, the State now desires by this project contract to
loan money for the construction of said project upon mutually
agreeable terms and conditions, subject to the availability of
funding for that purposejand

WHEREAS, the State and the Contractor agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project construction
loanj and

:.':=IER2.ll.S, i=":.l:i..-su.~nt .L.~ the Ccn"t.1:"actor I s By _~::'T,:S r the:
Contractor has authority to contract to borrow money provided
-that a Resolution be.duly passed by the Board of Directors and
to levy assessments assuring repayment of the state according to
the terms of the contractj and

WHEREAS, pursuant to section 1 of chapter 32, Session Laws
of Colorado 1987, as amended by HB 91-1006, Fifty-Eighth General
Assembly, the state has been authorized to loan Three Hundred
Ten Thousand Dollars ($310,000) for construction of the project,
including the cost of the feasibility report.

395-5J.Q-1-1O"14

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