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AGENCY NAME: Water Conservation Board AGENCY NUMBER: PDA ROUTING NUMBER: $100,000 LOAN CONTRACT THIS CONTRACT, made this ~~ day of 2000, by and between the State of Colorado for the use and benefit of the D artment ~f Natural Res~urces, Colorado Water Conservation Board, hereinafter referred to as the CWCB and/or STATE, and the Silt Water Conservancy District, hereinafter referred to as the DISTRICT, and the Silt Water Conservancy District Water Activity Enterprise, hereinafter referred to as the BORROWER and/or CONTRACTOR, P.O. Box 8, Silt, Colorado 81652. FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Organization YYYY, ApprOpriation SPL, GBL S030, Program WTRC, Reporting Category 0030, Object Code 5560, Contract ~ncumbr Number C150030. 2. Required approval, clearance, and coo~ een accomplished from and with appropriate agencies. 3. Pursuant to the provisions of §§ 37-60-1 1 .R.S. (1999), the STATE is authorized to loan money for the const f j r the benefit of the people of the STATE, provided that the borrower assu y nt of that money. 4. Section 37-60-122.7, C.R.S. (1999) authorizes the STATE t0 make loans of up to $100,000 from the Small Project Loan Account of the Construction Fund without prior approval from the General Assembly if the STATE determines that delay would result in undue hardship on the borrower. 5. The DiSTRicT is a duly constituted water conservancy district created and operated pursuant to Article 45 of Title 37, C.R.S., and located in Ga~eld County, Colorado. 6. The Silt Water Conservancy District Water Activity Enterprise was established pursuant to § 37- 45.1-103, C.R.S. by a resolution of the Board of Directors of the DisTRicT on January 14, 2000, which resolution is incorporated herein by reference. The DisTR~cT created the Enterprise for the purpose of pursuing, continuing and conducting all of the water activities of the DisrRic'r, including without limitation water rights acquisition, water supply project development, diversion, storage, carriage and delivery, and treatment of water, wastewater and stormwater. 7. The DiSTRicT and the BoRROwER applied to the STATE for a loan of $100,000 to be used for financing the reconstruction of their diversion structure on the Colorado River to avoid annual damage from spring runoff, hereinafter referred to as PRO~ECT, at an estimated total cost of $164,400. Silt Water Conservancy District Water Activity Enterprise and Silt Water Conservancy District Page 1 of 13