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AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: CC )01(p
<br />Contract Amendment No. 1
<br />This Amendment, made this _ day of August 2000, by and between the
<br />State of Colorado for the use and benefit of the Department of Natural Resources,
<br />Colorado Water Conservation Board, hereinafter referred to as the CWCB or STATE, and
<br />the Ute Water Conservancy District, hereinafter referred to as the DISTRICT, and the Ute
<br />Water Activity Enterprise, hereinafter referred to as the BORROWER and /or CONTRACTOR,
<br />P.O. Box 460, Grand Junction, Colorado 81502 -0460.
<br />Factual Recitals
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and
<br />otherwise made available and a sufficient unencumbered balance thereof remains
<br />available for payment in Fund Number 424, Organization YYYY, Appropriation S99,
<br />GBL UWCD, Program WTRC, Reporting Category 0026, Object Code 5560, Contract
<br />Encumbrance Number C150026 Pr
<br />B. Required approval, clearance, and coordinati bee accomplished from and
<br />with appropriate agencies.
<br />C. The STATE, the District and the BORRO V' nter contract April 12, 2000,
<br />Contract Encumbrance Number C1500 61 r referred to as ORIGINAL
<br />CONTRACT, incorporated herein by reference the STATE agreed to loan money
<br />in the amount of $7,000,000 to partially-' ' the design and construction of the
<br />Plateau Creek Pipeline Project (hereinafteT referred to as the PROJECT), and the
<br />BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL
<br />CONTRACT.
<br />D. The DISTRICT and the BORROWER applied to the STATE for an additional loan of
<br />$10,000,000 to finance PROJECT costs. The STATE has reviewed a feasibility study
<br />report on the PROJECT compiled by Stefan, Robertson and Kirsten in 1991, a February
<br />1998 environmental impact statement (EIS) prepared for the PROJECT, and an update
<br />of the 1991 feasibility study report prepared by the CWCB staff and DISTRICT staff, all
<br />of which are incorporated herein by reference, and, based upon the feasibility report
<br />as updated and upon the EIS, the STATE determined the PROJECT to be technically
<br />and financially feasible.
<br />E. At its January 26 -27, 2000 meeting, the CWCB approved increasing this loan by
<br />$10,000,000, for a total loan amount of up to $17,000,000, which may be used to
<br />finance up to 50% of the total PROJECT costs. The terms for the $10,000,000 loan are
<br />an interest rate of 5% per annum and a repayment period of thirty years.
<br />F. Pursuant to HB00 -1419, Section 2, the Colorado General Assembly authorized the
<br />CWCB to loan to the BORROWER an additional amount of $10,000,000, hereinafter
<br />Ute Water Conservancy District Page 1 of 4 Contract Amendment No. 1
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