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<br />AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER:
<br />CONTRACT AMENDMENT NO. 3
<br />THIS AMENDMENT, made this ',29"4- day of 2000, by and
<br />between the State of Colorado for the use and benefit of the Department of Natural
<br />Resources, Colorado Water Conservation Board, hereinafter referred to as the CWCB and /or
<br />STATE, and the Ute Water Conservancy District, hereinafter referred to as the DISTRICT,
<br />and the Ute Water Activity Enterprise, P.O. Box 460, Grand Junction, CO 81502 -0460,
<br />hereinafter referred to as the BORROWER and /or CONTRACTOR.
<br />FACTUAL RECITALS
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br />Number 424, Appropriation Code 419, Contract Encumbrance Number C1 53670B.
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />C. The STATE, the DISTRICT and the BORROWER entered into a contract dated March 31, 1995,
<br />Contract Encumbrance Number C153670B, which amended on July 10, 1996 and October
<br />23, 1997, hereinafter referred to as ORIGINA RAC Vch is incorporated herein by
<br />reference, under which the STATE agreed to loan R ER to $7,537,500 at an interest rate
<br />of 5% per annum for a term of thirty years to fi he and construction of the DISTRICT'S
<br />and BORROWER's Plateau Creek Pipeline P t ere' eferred to as the PROJECT), and the
<br />BORROWER agreed to repay the loan in accor " e erms of the ORIGINAL CONTRACT. The
<br />total cost of the PROJECT is estimated to be $55,36K.0
<br />D. The DISTRICT and the BORROWER applied to TE for an additional loan of $9,600,000 to
<br />finance PROJECT costs. The STATE has reviewe6 asibility study report on the PROJECT compiled
<br />by Stefan, Robertson and Kirsten in 1991, a February 1998 environmental impact statement (EIS)
<br />prepared for the PROJECT, and an update of the 1991 feasibility study report prepared by CWCB
<br />staff and DISTRICT staff, all of which are incorporated herein by reference, and, based upon the
<br />feasibility report as updated and upon the EIS, the STATE determined the PROJECT to be technically
<br />and financially feasible.
<br />E. At its November 1998 meeting, the CWCB approved an additional loan to the BORROWER in the
<br />amount of up to $9,600,000 from the CWCB Construction Fund and /or the Severance Tax Trust
<br />Fund Perpetual Base Account at an interest rate of 4.75% per annum for a term of thirty (30) years
<br />to finance PROJECT costs. The CWCB conditioned the loan upon the BORROWER raising its water
<br />rates prior to entering into the loan contract. On April 14, 1999, the BORROWER approved a motion
<br />raising its water rates effective July 1, 1999.
<br />F. Pursuant to 1999 Colo. Sess. Laws, Ch. 218, Section 3, the Colorado General Assembly authorized
<br />the CWCB to loan to the DISTRICT, acting by and through the BORROWER, an additional $2,600,000
<br />from the Construction Fund, at an interest rate of 4.75% per annum for a term of thirty (30) years for
<br />financing PROJECT costs. The General Assembly also authorized the CWCB to loan to the DISTRICT,
<br />acting by and through the BORROWER, an additional $7,000,000 from the Severance Tax Trust Fund
<br />Perpetual Base Account for the PROJECT, which loan will be made by a separate contract.
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