C150023 DeAuth Contract

• Contract/PO #: C150023
• Contractor Name: Ryan Gulch Reservoir Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Contract Documents

4
AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER: 0001
$ 317,500
LOAN CONTRACT
THIS CONTRACT, made this day of 111 Lt's Qq 1999, 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 CWCB and /or
STATE, and The Ryan Gulch Reservoir Company, a Colorado nonprofit corporation, hereinafter
referred to as the BORROWER and /or CONTRACTOR.
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise
made available and a sufficient unencumbered balance f remains available for
payment in Fund Number 424, Organization YYYY, ropdation L99, GBL RYAN,
Program WTRC, Object Code 5120, Reporting Category: 23, Contract Encumbrance
Number C150023.
2. Required approval, clearance, and coordin on ha Oeen accomplished from and with
appropriate agencies.
3. Pursuant to the provisions of §§ -119 nd 37 -60 -120, C.R.S. (1998) the STATE is
authorized to loan money for the, const io f water projects for the benefit of the people
of the STATE, provided that th 4101 rower assures repayment of that money.
4. The BORROWER is a duly d Colorado ditch and reservoir company formed pursuant
to §§ 7-42 -101 et sea. and et seq., C.R.S., located in Larimer County, State of
Colorado.
5. The BORROWER has applied to the STATE for a loan to be used for Construction of a spillway
for BORROWER's Ryan Gulch Dam, hereinafter referred to as PROJECT, at a cost of $428,500.
6. The STATE has reviewed a feasibility report compiled by Boyle Engineering of Lakewood,
which is incorporated herein by reference, and was financed in part by CWCB, and, based
upon this feasibility report, the STATE determined the PROJECT to be technically and
financially feasible.
7. At its January 27 -28, 1999 meeting, the CWCB approved a loan to the BORROWER in an
amount up to $317,500, not to exceed 75% of the cost of the PROJECT, at an interest rate of
4.25% per annum for a term of 30 years.
8. Pursuant to Senate Bill 99 -173, Section 1(1), the Colorado General Assembly authorized
Ryan Gulch Reservoir Company Page 1 of 13 Loan Contract