C153670B PIF Contract

• Contract/PO #: C150670B
• Contractor Name: Ute Water Conservancy District
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER: O C 00
CONTRACT AMENDMENT #1
THIS AMENDMENT, made this 10 t day of J�li- S/ 99G , 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 Ute Water Conservancy
District and the Ute Water Activity Enterprise, hereinafter referred to as the CONTRACTOR.
FACTUAL RECITALS
1. 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 419, Contract Encumbrance Number C153670.
2. Required approval, clearancp;�,a'nd;,' ` ordination has been accomplished from and with
appropriate agencies. ,
3. The STATE and the CONTRACTC t efitei`e)�pth a contract dated � ,' �i ` ontract
Routing Number 950473, Contrage�Ertct rt l nce Number C153670 hereinafter referred to as
ORIGINAL CONTRACT and incorp td ern by reference, wherein the STATE agreed to loan money
in the total amount of $7,537,; and the CONTRACTOR agreed to repay the loan in accordance
with the terms of the ORIGINAL CONTRACT.
4. In the ORIGINAL CONTRACT, the CONTRACTOR pledged revenues in an amount sufficient to
pay the annual installment amount required by the ORIGINAL CONTRACT, subject only to a pledge of
funds for repayment of the CONTRACTOR'S Water , Revenue Refunding Bonds, Series 1987, and to
repayment obligations of another loan contract (Contract #C153670 dated March 17, 1994), with
the STATE.
5. By a letter dated December 14, 1995, attached hereto as Attachment 1 and incorporated
herein, the CONTRACTOR proposed to advance refund a portion of its 1987 Water Revenue
Refunding Bonds V1 987 Bonds ") by issuing Water Revenue Refunding Bonds, Series 1995, to take
advantage of lower interest rates, and asked the STATE for confirmation that the advance refunding
would not conflict with, result in a breach of, or constitute a default of the ORIGINAL CONTRACT.
6. Based upon its review of a preliminary Official Statement on the Water Revenue Refunding
Bonds, Series 1995 prepared by Bigelow & Company Investment Bankers, the STATE determined
that the advance refunding of the 1987 Bonds would not conflict with, result in a breach of, or
constitute a default of the ORIGINAL CONTRACT, and informed the CONTRACTOR of that determination
by a letter dated December 19, 1995.
7. The CONTRACTOR issued the Water Revenue Refunding Bonds, Series 1995 ("1995 Bonds "),
on December 28, 1995.
Ute Water Conservancy District & Page 1 of 3 Contract Amendment #1
Ute Water Activity Enterprise