Colorado - Eagle Park Reservoir Enlargement_Contract C150401

Home Browse Search

5.3. The State shall not be liable to Contractor for payment of work or services or for costs or expenses incurred by Contractor prior to the "Effective Date". 5.4. The maximum amount available during each fiscal year of this grant contract shall be: (a) $180,580 in fiscal year 2007; (b) $180,580 in fiscal year 2008, minus any funds expended during fiscal year 2007. 6. Availability of Funds This contract is contingent upon the continuing availability of State appropriations as provided in Section 2 of the Colorado Special Provisions, incorporated as a part of this contract. The State is prohibited by law from making fiscal commitments beyond the term of its current fiscal period. If Federal appropriations or grants fund this contract in whole or in part, the contract is subject to and contingent upon the continuing availability of appropriated Federal funds for this contract. If State of Colorado or Federal funds are not appropriated, or otherwise become unavailable to fund this contract, the State may immediately terminate the contract in whole or in part without further liability. PROCEDURES FOR AND OBLIGATIONS OF CONTRACT PERFORMANCE 7. Billing/Payment Procedure 7.1. The State shall establish billing procedures and pay Contractor the contract price or rate for Services performed, reviewed, and accepted or Goods delivered, inspected, and accepted pursuant to all the terms and conditions of this contract, including without limitation, performance, quality, milestones and completion requirements for payment set forth in Exhibit A, Statement of Work, and the State's inspection and acceptance rights in Section 8. Contractor shall submit invoices for payment on forms and provide requested documentation in a manner prescribed or approved by the State. Payments pursuant to this contract shall be made as earned, in whole or in part, from available funds encumbered for the purchase of the described Services and Goods. Incorrect payments by the State to Contractor due to omission, error, fraud, or defalcation shall be recovered from Contractor by deduction from subsequent payments under this contract or other contracts between the State and Contractor or collected as a debt due to the State. 7.2. Invoices and payments shall be mailed using the US Postal Service or other delivery service with a properly addressed stamped envelop to the following addresses: For the State: Department of Natural Resources, Colorado Water Conservation Board 1313 Sherman Street, Suite 721 Denver, CO 80203 Attention: Rick Brown For Contractor: Eagle Park Reservoir Company 846 Forest Road Vail, CO 81657 Attention: Dennis Gelvin 7.3. The State shall make payment in full with respect to each invoice within forty-five (45) days of receipt thereof; provided that the amount invoiced represents Goods and/or Services which have been accepted by the State and the form of the invoice is acceptable to the State. Uncontested amounts not paid by the State within forty-five (45) days shall bear interest on the unpaid balance beginning Page 3 of 15