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`J <br />575,000 <br />T'HIS CONTRACI', made this � day of <br />use and benefit of the Department of <br />DEPARTMENT 0 ' NCY NAME <br />OEPARTMENT OR AGENCY NUMBER <br />RWTING NUMBER 9 yo y Yd <br />FEASIBILITY REPORT <br />CONTRACT <br />199 � by and between the State of Colorado for the <br />(Colorado Water Conservation Board� <br />hereinafter refened to as the State, and Beaver Park Water, Inc. ' <br />P.O. Box 286. Penrose, CO 81240 <br />hereinafter refened to as the borrower/Borrower. <br />WHEREAS, authority exists in the Law and Funds have b eted, appropriated and otherwise made available and a suffcient <br />unencumbered balance thereof remains available f mber 424 . Organization YYYY . Appropriation 814 . <br />Program WTRC . Object Code 5120 , Contract E m mber, ; and <br />. : 3 t�,,'� ! <br />WHEREAS, required approval, clea � i h omplished from and with appropriate agencies; and' <br />WHEREAS, pursuant to the provisions of section 37-60-119, Colorado Revised <br />Statutes, as amended, the State is authorized to construct certain water projects for the <br />benefit of the people of the State of Colorado; and <br />WHEREAS, Beaver Park Water, Inc., hereafter referred to as the Borrower, has <br />made application to the State for the repair of its Brush Hollow Dam, such repair of the <br />dam is hereinafter sometimes referred to as the project; and <br />WHEREAS, the Colorado Water Conservation Board approved at their November <br />9, 1993 meeting, a loan to Beaver Park Water, Inc. in a maximum amount of Seventy Five <br />Thousand Dollars ($75,000) to conduct a feasibility study for the repair of the Brush <br />Hollow Dam; and, <br />WHEREAS, the Borrower is a mutual ditch company located within the State of <br />Colorada; <br />Page 1 of 10 Pages <br />