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AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER:
<br />$7,000,000
<br />LOAN CONTRACT
<br />THIS CONTRACT, made this /_ day of z/ // 2000, by and
<br />between the State of Colorado for the use and benefit of a Department of Natural Resources,
<br />Colorado Water Conservation Board, hereinafter referred to as the CWCB and /or STATE, and the Ute
<br />Water Conservancy District, hereinafter referred to as the DISTRICT, and the Ute Water Activity
<br />Enterprise, hereinafter referred to as the BORROWER and /or CONTRACTOR, P.O. Box 460, Grand
<br />Junction, Colorado 81502 -0460.
<br />FACTUAL RECITALS
<br />1. 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 100, Organization YYYY, Appropriation S99, GBL UWCD, Program WTRC, Reporting
<br />Category 0026, Object Code 5180, Contract Encumbrance Number C150026.
<br />2. Required approval, clearance, and coordination have been mplished from and with
<br />appropriate agencies. °� . 7
<br />3. Pursuant to the provisions of §§ 37 -60 -119 and (1999), the STATE is
<br />authorized to loan money for the construction of water projects fpr, the,bervAt of the people of the
<br />STATE, provided that the borrower assures repayment ofthkmoliey
<br />4. The DISTRICT is a duly constituted water conservancy district created and operated pursuant to
<br />Article 45 of Title 37, C.R.S., and located in Mesa County, Colorado.
<br />5. The Ute Water Activity Enterprise was established pursuant to § 37 -45.1 -103, C.R.S. by
<br />Resolution No. UW -94 -04 dated September 14, 1994 by the Board of Directors of the DISTRICT,
<br />which resolution is incorporated herein by reference. The DISTRICT created the Enterprise for the
<br />purpose of pursuing, continuing and conducting all of the water activities of the DISTRICT,
<br />including without limitation the construction, operation, maintenance, repair and replacement of
<br />the DISTRICT'S property, works, projects and facilities.
<br />6. The DISTRICT and the BORROWER entered into a contract with the STATE dated March 31, 1995,
<br />Contract Encumbrance No. C153670B, which the parties amended on July 10, 1996 and October
<br />23, 1997 ( "1995 Contract') under which the STATE agreed to loan the BORROWER up to
<br />$7,537,500 to finance the design and construction of the DISTRICT'S and BORROWER'S Plateau
<br />Creek Pipeline Project (hereinafter referred to as the PROJECT). The total cost of the PROJECT is
<br />estimated to be $55,360,000.
<br />7. The DISTRICT and the BORROWER applied to the STATE for an additional loan of $9,600,000 to
<br />finance PROJECT costs. The STATE has reviewed a feasibility study report on the PROJECT
<br />compiled by Stefan, Robertson and Kirsten in 1991, a February 1998 environmental impact
<br />statement (EIS) prepared for the PROJECT, and an update of the 1991 feasibility study report
<br />Ute Water Activity Enterprise and
<br />Ute Water Conservancy District age 1 of 13
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