C153629 PIF Contract

• Contract/PO #: C153629
• Contractor Name: Colorado River Water Conservation District, The
• Contract Type: Loan
• Water District: 50
• County: Grand
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER:
CONTRACT AMENDMENT No.2
Grua r lRgB
THIS AMENDMENT, made this _20 day of Baas R 7, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation
Board (CWCB), hereinafter referred to as the STATE, and the Colorado River Water Conservation
District, P.O. Box 1120, Glenwood Springs, CO 81602, hereinafter referred to as the CONTRACTOR.
FACTUAL RECITALS
A. 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 424,
Appropriation Code 368, Contract Encumbrance Number C153629.
B. Required approval, clearance, and coordination has been accomplished from and with appropriate
agencies.
C.
The STATE and the CONTRACTOR entered into a contract dated September 30, 1992, Contract
Encumbrance Number C153629, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein by
reference, wherein the STATE agreed to loan money in the total amount of $20,000,000, and the
CONTRACTOR agreed to repay the loan in accordance witbe terms of the ORIGINAL CONTRACT.
D. The ORIGINAL CONTRACT was amended on
shall be due one month after the project is si
C
F
The PROJECT was substantially completed a
The total amount of the funds borrowed of tt
CONTRACTOR'S first two loan payments of $
respectively.
that the first loan payment
as $16,255,724.12, and, the
y 1, 1996 and July 1, 1997,
G. The CONTRACTOR and the STATE have agreed that the revenues pledged to repay this loan shall be
limited to the first $1,153,383.57 received annually by the CONTRACTOR from the City and County of
Denver under the Denver Lease, provided that the CONTRACTOR establishes a reserve account in the
amount of $1,500,000 and conveys a security interest to the.STATE in said account. The CONTRACTOR
has agreed to provide a Security Agreement to the STATE to secure the pledged revenues and to keep
said revenues in a separate account.
H. At its July 15 -16, 1997 meeting, the CONTRACTOR's Board of Directors adopted a resolution approving
the terms of this contract amendment.
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NOW THEREFORE, the parties hereby agree that
1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be
made pursuant to this Amendment, Amendment No. 1, and the ORIGINAL CONTRACT and the promises
and agreements herein set forth.
2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT,
and all terms, conditions, and provisions thereof, unless specifically modified herein, are to apply to this
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