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AGENCY NAME: Water Conservation Board <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: Olevel <br />CONTRACT AMENDMENT #1 <br />THIS AMENDMENT, made this a eh day of Ti11- 4 / 9 9G , by and between <br />the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board (CWCB), hereinafter referred to as the STATE, and the Ute Water <br />Conservancy District, hereinafter referred to as the CONTRACTOR. <br />FACTUAL RECITALS <br />1. 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 payment in <br />Fund Number 424, Appropriation Code 419, Contract Encumbrance Number C153670. <br />2. Required approval, clearance, and coordination has been accomplished from and with <br />appropriate agencies. <br />3. The STATE and the CONTRACTOR entered into a contract dated act <br />Routing Number 940439, Contract Encumbrance Numbe "Oft,o-hereinafter referred to as <br />ORIGINAL CONTRACT and incorporated herein by reference, wherein the STATE agreed to loan money <br />in the total amount of $400,000, and the CONTRACTOR agreed to repay the loan in accordance with <br />the terms of the ORIGINAL CONTRACT. <br />4. In the ORIGINAL CONTRACT, the CONTRACTOR pledged revenues in an amount sufficient to <br />pay the annual installment amount required by the ORIGINAL CONTRACT only to a pledge <br />of funds for repayment of the CONTRACTOR'S Water Revenue Refundi , Ses 1987. <br />5. By a letter dated December 14, 1995, attached hereto meri orporated <br />herein, the CONTRACTOR proposed to advance 'refund a portior%o rti,7 ater Revenue <br />Refunding Bonds ("1987 Bonds ") by issuing Water Revenue Refun ' g 'lids Series 1995, to <br />take advantage of lower interest rates, and asked the STATE for, ma`tion that the advance <br />refunding would not conflict with, result in a breach of, or consti uW a default of the ORIGINAL <br />CONTRACT. <br />6. Based upon its review of a preliminary Official Statement on the Water Revenue <br />Refunding Bonds, Series 1995 prepared by Bigelow & Company Investment Bankers, the STATE <br />determined that the advance refunding of the 1987 Bonds would not conflict with, result in a <br />breach of, or constitute a default of the ORIGINAL CONTRACT, and informed the CONTRACTOR of that <br />determination by a letter dated December 19, 1995. <br />7. The CONTRACTOR issued the Water Revenue Refunding Bonds, Series 1995 ("1995 <br />Bonds "), on December 28, 1995. <br />Ute Water Conservancy District Page I of 3 Contract Amendment #1 <br />