PROJC02502 - Laserfiche WebLink

Home Browse Search

~ ~ 8. The STaTE has reviewed a feasibility study report on the PRO~ECT compiled by the DisrR~cT in cooperation with the Natural Resources Conservation Service (Glenwood Springs office) and completed in January 2000, which is incorporated herein by reference, and, based upon the feasibility report, the STATE determined the PRO.IECT to be technically and financially feasible. 9. At its January 2000 meeting, the CWCB approved a loan to the BoRROwER in the amount of up to $100,000, hereinafter referred to as the AUTHORIZED LOAN AMOUNT, from the Small Project Loan Account of the CWCB Construction Fund, at an interest rate of 4% per annum for a term of thirty (30) years, to finance 75% of PRO~ECT costs. The CWCB found ti~at, under Section 37-60- 122.7, C.R.S. (1999), this loan qualifies as a Small Project loan because delay in completion of the PRO~ECT would result in undue hardship on the D~sTR~CT and the BoRROwER based upon their potential inability to divert water in 2000 without the PRO.tECr. 10. The STATE acknowledges and understands that the repayment of the funds loaned, including interest thereon, will come from revenues pledged for the repayment thereof from water system revenues and that this obligation does not constitute a debt of the DisTRicT within the meaning of any constitutional or statutory limitations. 11. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon mutually agreeable terms and conditions, subject to the availability of funding for that purpose. NOW THEREFORE, in consideration of the mutual pendent covenants contained herein, the parties agree as follows: A. The BoRROwER agrees as follows: ~ 1. Construction Fund Program Procedures. II s are procedures the BORROWER shall follow during the construction p th' . a. The BoRROwER shall employ~ an 'n e~, registered in the State of Colorado, hereinafter k: referred to as the CONSULTANT, to pre~pare•plans and specifications for the PRO~ECT. b. The agreement between the ~ORROWER and the CONSULTANT and the plans and specifications must be subrrtjited ~,~ie CWCB staff for verification of compliance with the terms of this contract prior to bid ~pe~ing. *'Any modifications to the plans and specifications must be approved in writing by the CWCB staff. c. CWCB staff must be present at bid opening and must approve the award of the construction contract. d. The BoRROwER shall contract for the construction of the work with responsible and capable firms, hereinafter referred to as CONSTRUCTION FIRMS, WhICh CONSTRUCTION FIRMS Sh811 b2 selected by the BoRROwER and found acceptable by the CWCB staff before work under this contract begins. e. The BORROWER must provide a copy of the executed construction contract documents consisting of the advertisement for bid, contractors proposal, construction contract, bid bond, performance bond, payment bond, notice of award, notice to proceed, sample change order, and sample field order. After the CWCB staff verifies that these documents comply with the terms of this contract, the BORROWER may issue the notice to proceed to the CONSTRUCTION FIRMS. The BoRROwER shall conduct a pre-construction conference at which time the CWCB staff shall have the opportunity to review and approve the construction schedule. Silt Water Conservancy District Water Activity Enterprise and Silt Water Conservancy District Page 2 of 13