C153568 3/27/12

• Contract/PO #: C153568
• Contractor Name: Coon Creek Reservoir & Ditch Company
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

Form 6 -AC -02A (R 5/85)
U1 /PB
COON CK. RES.
NOS. 1 &2
PROJECT
CONTRACT
1)E.PA' MkN r OR AGENCY NUMBER
34 -04 -00
CON1 ' ROt'TING N M B E R
Gl 41c
$55,000 `r
and Promissory Note
THIS CONTRACT, made this day of f 198 . by and between the
State of Colorado for the use and benefit of the Department of '' Natural Resources
(Colorado Water Conservation Board),
hereinafter referred to as the State, and ,2 the Coon Creek Reservoir and Ditch
Comnanv, Box 145, Mesa, CO 81643,
hereinafter referred to as the contractor /Contractor or Borrower.
WHEREAS, 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 4008
G/L Account Number 530 76X . Contract Encumbrance Number ' : and
ABL Account No. 13760, Org. Unit 77 -77 -777,
WHEREAS, required approval, clearance and coordination has been accomplished from and with appropriate
agencies: and
WHEREAS, pursuant to the provisions of 37 -60 -119 and
37 -60 -120, Colorado Revised Statutes, the State is authorized
to loan money for the construction of water projects for the
benefit of the people of the State provided that the Contractor
assures repayment of that money; and
WHEREAS, the Contractor is a duly constituted reservoir and
ditch company in the State of Colorado and it wishes to repair
Coon Creek Reservoirs Nos. 1 and 2, hereinafter sometimes
called the project, for the benefit of the shareholders of the
company in Mesa County, Colorado, at an estimated cost of One
Hundred Ten Thousand Dollars ($110,000); and
WHEREAS, the State now desires by this project contract to
loan money for the construction of said project upon mutually
agreeable terms and conditions, subject to the availability of
funding for that purpose; and
WHEREAS, pursuant to the Contractor's By -Laws, the
Contractor has authority to contract to borrow money provided
that a Resolution be duly passed by the Board of Directors and
to levy assessments assuring repayment of the State according
to the terms of the contract; and
WHEREAS, pursuant to section 1 of chapter 32, Session ;yaws
of Colorado 1987, as amended by Senate Bill 85, Fifty - Seventh
General Assembly, the State has been authorized to loan up to
Fifty -Five Thousand Dollars ($55,000) for construction of the
project.
WHEREAS, the Contractor or Borrower understands that this
Contract is also a promissory note for the repayment of funds
loaned to the Borrower according to the terms set forth herein.
NOW THEREFORE, in consideration of the mutual and
dependent covenants herein contained, it is agreed by the
parties hereto as follows:
A. The Contractor agrees that it shall:
1. Employ an engineering firm (hereinafter referred to as
the Consultant) to prepare project plans acid specifications for
the project. Both the Consultant and the project plans and
specifications must be approved in writing by the State before
construction on the project can commence. For purposes of this
paragraph, "construction" includes any real estate and water
rights acquisitions.
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