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Form 6-AC-02A (R S/851 w/FR Uauer No. 1 Reservoir Dam PROJECT CONTRACT UEYAR"ru�:N! OR AGENCY NU.NBtK 34-04-00 �1MEPdDD4E[�T #1 CONTRA� �o��rin 7 Reduce Loan Amount $19,148.78 �L"l�.� THIS CONTRACT, made this �� ��_ day of ��`r=G�z- I9 9 1 , by and between the Slate of Colorado for the use and benefit of tne Uepartment of '' NdtuT'al ReSOUrCes (Colorado Water Conservation Board), hereinaf�er referred to as the Slate, and ' T Bauer Lakes Water Company, 11747 Co. Rd. 41, P�4ancos, CO 81328, hereinafrer referred to as the cuntractur /Contractor. WHEREAS, authority exists in the Law and Funds have been budgeted, appropriated and otherwise made �vail�ble and a sufficienl unencumbered balance thereof remains available for payment in Fund humber 4008 G(L Account Number 5409X, Contract Encumbrance NumberC' and ABL Account No. 14090 Orq. Init 77-77-777 WHEREAS, reyuired approval, clearance and coordination has been accomplished from and with �ppropriate agencies: and WHERF'AS, puesuant to the pcovisions of 37-60-119 and 37-60-120, Colocado Revised Statutes, the State is authocized to loan money foL the construction of water projects fo= the benefit of the people oL the State p�ovided that the ContLactor assu�es repayment of that money; and WHEREAS, the Contcactor is a watec company in the State of Colo�ado and it wished to impcove the facilities of the Bauer No. 1 Reservoir Dam, heceinafter sometimes called the project, foc the benefit of the shareholdets of the water 'company in Montezuma County, Colo�ado, at an estimated cost°of Two Hundted Thousand Dolla�s ($200,000); and WHEREAS, the State and the C ntered into a contcact dated June�28, 1989, Co mbrance Number C-153564, Routing Number 89600 ( inaf��Ociginal Contcact"); and WHEREAS, the Oriqinal Cont �a�horized the State to loan $100,000 to the Contcactor fot�he rehabilitation of the Bauec No. 1 Reservoir Dam; and WHEREAS, constLUCtion of the project has been completed to the satisfaction of the State and the Contractor; and WHEREAS, the State actually only advanced a total of Ninety-Two Thousand Eight Hundced Fifty-One Dollars and Twenty-Two Cents ($92,851.22) to the Contcactor for the construction of this project and preparation of feasibility report; and WBEREAS, the Contractor obtained unexpected supplemental g�ant funds fcom the U.S. Depa�tment of Aqciculture, Soil Conservation Service, to pay part of the cost foc the constcuction of this pcoject aftec the State had alceady advanced its Ninety-Two Thousand Eiqht Hundred Fifty-One Dollacs and Twenty-Two Cents ($92,851.22); and WHEREAS, as a �esult of receiving the unexpected qrant funds from the Soil Conse�vation Service, the Cont�actor did not need all of the Ninety-Two Thousand Eiqht Hundced Fifty-One Dollars and Twenty-Two Cents ($92,851.22) which the State had loaned foc the pcoject; and WHEREAS, the Contcactoc sent a check for Twelve Thousand Dollars ($12,000) to the State for the pucpose of reducinq the loan amount on the project. 3850E* j9 �'�� Page I o( 5 pages