C150058A PIF Contract - Laserfiche WebLink

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PROJECT SUMMARY - DOLORES WATER CONSERVANCY DISTRICT - C150058 SECTION 1 -BORROWER INFORMATION A. Borrower info Name: The Dolores Water Conservancy District, acting by and through the Dolores Water Conservancy District Water Activity Enterprise Address: P.O. Box 1150, Cortez, CO 81321 Phone Number: (970) 565-7562 Type of Entity: The Dolores Water Conservancy District is a water conservancy district formed pursuant to and governed by Article 45, Title 37, C.R.S. and located in Dolores and Montezuma Counties. The Dolores Water Conservancy District Water Activity Enterprise is a water activity enterprise established by the District by Resolution No. 93-02, dated December 14, 1993, pursuant to Article 45.1, Title 37, C.R.S., which resolution is incorporated herein by reference. The Enterprise was formed and is operated as an enterprise within the meaning of Co~o. Co-vST. Art. X, Section 20 and C.R.S. § 37-45.1-101, etseq.. SECTION 2 - PROJECT DESCRIPTION A. Description of Project: The irrigation c x, nt of the DistricYs WETPACK project, which includes construction of water I~ ` ture and the acquisition of shares of stock in the Montezuma Valley Irrigation 4 B. Description of Feasibility St m~ ~~rict and Harris Water Engineering, Inc. ~ on October 9, 2000. ~ ~ SECTION 3 -DISBURSEMENT SCHEDULE A. For the construction component of the PRO,IECT, the BoRROwER shall prepare a periodic progress report which contains a statement of the PRO~ECT costs expended for that period and shall forward said statement to the CWCB. After receipt of the periodic progress report from the BORROWER, and review and acceptance of the items therein as eligible expenses as described below, the CWCB will pay to the BoRROwER the amount set forth in the report or such portion that has been approved by the CWCB. Such payment shall be made within thirty (30) days from the CWCB's approval of each progress report. B. For the purchase of shares of stock in the Montezuma Valley Irrigation Company for the PROJECT, the BORROWER Sh811 request, in writing, the amount of loan funds needed for the purchase at least two weeks before the funds are needed. The CWCB shall disburse the requested amount to the BoRROwER within ten days of its receipt of the written request. SECTION 4- TIME FOR PERFORMANCE Project Beginning: Upon the effective date of this contract Project Finish: 5 years from the effective date of this contract SecTtoN 5- Additional Contract Requirements As conditions of loan approval, the CWCB specified that prior to entering this loan contract: (1) The District will have finalized an agreement with the Montezuma Valley Irrigation Company for the acquisition of a sufficient number of shares of stock in the Company and for the acquisition of any facilities required to provide an adequate water supply for the Project. The District finalized its Appendix 1 to Loan Contract No. C150058