C153588 PIF Contract

• Contract/PO #: C153588
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 89-85
• Loan Projects - Doc Type: Contract Documents

IF A
Form 6 -AC -02A (R 5185)
W /TEPV K &PB
Barnes Meadows Dam
111PARTti"�„ r OR A(;ENCV NUMBER
34 -04 -00
CONTRA,--, KO(!TING NU%1BE.R
PROJECT $192,317
CONTRACT
and Promissory Note
THIS CONTRACT, made this ��' day of ����,� 19 91 . 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 .z the City of Greeley,
Greeley Civic Center, 1000 10th Street. Greel -ev. Colorado.
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 aypilable fo pavment in Fund Number 4008
G/L Account Number 5378X, Contract Encumbrance Numb and
ABL Account No. 13780, 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 city in
State of Colorado and it wishes to construct, or cause to
constructed, the rehabilitation of its Barnes Meadow Dam
appurtenant structures, hereinaft~ 0metimes called the
project. which is located in La Cou ty, Colorado, at
estimated cost of Four Hundre T s nd Dollars
the
be
and
an
($430,000); and -
WHEREAS, on July 1, 1987, th es entered into a
feasibility report contract, a a d hereto as Exhibit A
feasibility investigation o roject was conducted and the
State has determined that su project is technically and
financially feasible; and
WHEREAS, on 6 199,/, the State and the
Contractor entered into a termination contract, attached hereto
as Exhibit A,-which terminated the Exhibit B feasibility report
contract previously entered into between the parties; and
WHEREAS, the termination contract provides that the
Contractor will repay to the State the principal amount of
Twenty -Two Thousand Six Hundred Eighty -Three Dollars ($22,683)
under the terms and conditions of that Exhibit A termination
contract in consideration of the State's partial financing of
the feasibility report for the project pursuant to the Exhibit
B feasibility report contract; 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, the State and the Contractor agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project construction
loan; and
WHEREAS, pursuant to the Contractor's Home Rule Charter.
the Contractor has authority to contract to borrow money,
provided that said contract is signed by the current Chairman
of the Greeley Water and Sewer Board, and to levy assessments
assuring repayment to the State according to the terms of the
contract; and
3594E*
3953301.1014 page I of 10 pages