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� <br />> <br />GRANTEE: CITY OF FLORENCE <br />Contract No. C150203 <br />Grant Amount $167,000 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 0� � ����� <br />GRANT CONTRACT <br />THIS CONTRACT, made this 6th day of September, 2005, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board, hereinafter referred to as the CWCB and/or STATE, and the CITY OF <br />FLORENCE, 300 West Main Street, Florence, CO 81226, hereinafter referred to as the <br />GRANTEE or CONTRACTOR. <br />FACTUAL RECITALS <br />A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />payment in Fund Number 424, Organization YYYY, Appropriation FLC, GBL F203 Program <br />WTRC, Object Code 5110, Contract Encumbrance Number C150203. <br />B. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />C. Pursuant to Section 37-60-121(1)(b)(IV), C.R.S., the CWCB is authorized to make <br />nar�reimbursable expenditures �rom the CWCB Consfruction Fund wi�h speci�ic <br />authorization from the General Assembly. <br />D. The GRANTEE is a Colorado municipality. <br />E. The GRANTEE has requested a nonreimburseable expenditure for the purpose of financing <br />a portion of the Oak Creek Reservoir feasibility study to be prepared by the United States <br />Corps of Engineers ("PROJECT"). The PROJECT's total cost is approximately $448,000. <br />F. The CWCB has determined that the PROJECT will benefit municipalities and other water <br />providers in the Arkansas River valley, and will assist the CWCB in its water resource <br />planning efforts. <br />G. At its September 13, 2004 meeting, the CWCB approved a nonreimbursable expenditure <br />for the PROJECT to the GRANTEE in an amount up to $167,000, not to exceed 50% of <br />the cost of the PROJECT. <br />H. Pursuant to Senate Bill 05-084, Section 15, the Colorado General Assembly authorized <br />CWCB to allocate to the GRANTEE an amount up to $167,000 for the PROJECT. <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained herein, <br />the parties agree as follows: <br />1. Time of performance. The GRANTEE recognizes that time is of the essence in the <br />GRANT CONTRACT NO. C150203 <br />Page 1 of 6 <br />