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Hourglass Dam <br />w /TermK &PB <br />THIS CONTRACT, made this <br />use and benefit of the Department of _ <br />DEPARTMENT OF AGENCY NAME <br />Water Conservation Board <br />DEPARTMENT OR AGENCY NUMBER <br />PDA <br />ROUTING NUM8ER n �.� LL <br />PROJECT CONTRACT <br />day of <br />by and between the <br />hereinafter referred to as the State, and the City of Greeley, y° <br />Greeley Civic Center, Greeley, Colorado 80631_, <br />hereinafter referred to as the contractor / Borrower. <br />the <br />WHEREAS, authority exists in the Law and Funds have been budgeted, appropriated and otherwise made available and a <br />sufficient unencumbered balance thereof remains available for payment in Fund Number �424 Organization YYYY , Appropriation <br />005, Program WTRC , Object Code 5120 , Contract Encumbrance Number, C j �j 1 ; and <br />.� WHEREAS, required approval, clearance and coordination have been accomplished from and with appropriate agencies, and <br />WHEREAS, pursuant to the provisions of Sections 37 -60 -119 and <br />F, 'a 37 -60 -120, Colorado Revised Statutes, the State is authorized to <br />loan money for the construction and rehabilitation of water <br />projects for the benefit of the people of the State provided that <br />the Borrower assures repayment of that money; and <br />{,1 WHEREAS, the Borrower is a duly constituted Home Rule City in <br />the State of Colorado and wishes t nstruct, or cause to be <br />constructed, the enlargement and ilitation of its Hourglass <br />Dam and appurtenant structure of alled the project, <br />which is located in Larimer , C , at an estimated cost <br />of Five Hundred Thousand Doll ( 0 ; and <br />WHEREAS, pursuant to the o 's City Charter, the Borrower <br />has authority to contract t" w money provided that an <br />Ordinance be duly passed by, City Council, and to levy <br />assessments to assure repayment according to the terms of the <br />contract; and <br />WHEREAS, on April 3, 1990, the parties entered into a <br />feasibility report contract to the extent of Twenty Thousand <br />Dollars ($20,000). A feasibility investigation of said project <br />was conducted and the State has determined that such a project is <br />technically and financially feasible; and <br />WHEREAS, on 21&7 , 19� the State and the <br />Borrower entered iritb a termination contract terminating the April <br />3, 1990, feasibility report contract; and <br />Page 1 of 10 Pages <br />