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AGENCY NAME: Water Conservation Board <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: <br />$504,000 <br />LOAN CONTRACT <br />THIS CONTRACT, made his day of A urn u ST . 1997, by and <br />between the State of Colorado for the use and benefit of the Department of Natural Resources, <br />Colorado Water Conservation Board ( "CWCB "), hereinafter referred to as the STATE, and the TOWN OF <br />MORRISON, P.O. Box 95, Morrison, Colorado 80465, hereinafter referred to as the BORROWER <br />and /or CONTRACTOR. <br />FACTUAL RECITALS <br />A. Authority exists in the law, a'd funds have been budgeted, appropriated and otherwise made <br />available and a sufficient une cumbered balance thereof remains available for payment in Fund <br />Number 424, Organization YYYY, Appropriation 536, Program WTRC, Object Code 5110, Reporting <br />Category 3773, Contract Encumbrance Number C153773. <br />B. Required approval, clearance, <br />agencies. <br />C. Pursuant to the provisions of <br />STATE is authorized to loan me <br />of the STATE provided that the <br />D. The Town of Morrison is a <br />County in the State of Cols <br />id coordination have been accomplished from and with appropriate <br />RUD <br />i 37 -60 -119 and 37 -60 -120, C.R.S. (1990 and Supp. 1996), the <br />�y for the OM ti r cts for the benefit of the people <br />rrower as r p t f a o ey. <br />town pursuant to § 31 -1 -203, C.R.S. (1986), located in Jefferson <br />E. The BORROWER held an election on April 2, 1996 whereby voters approved increasing the <br />BORROWER's debt by up to $594,000 to be used for the replacement of the BORROWER's raw water <br />diversion structures, improve ents, pumping and piping facilities, as shown on the BORROWER's <br />Official Ballot for Referred Measure B, which is incorporated herein by reference. <br />F. Pursuant to § 31- 15- 302(1)(d), C.R.S. (1986), the BORROWER is authorized to contract indebtedness <br />provided that its Board of Trustees has duly adopted an ordinance, irrepealable for the term of the <br />loan, authorizing the BORROWER to repay the loan according to the terms of the contract. <br />G. The BORROWER applied to the STATE for a loan to be used to finance the construction of a new <br />diversion structure on Bear Creek, a new sand trap, a pump station and approximately 1,740 feet of <br />transmission line, hereinafter referred to as the PROJECT. <br />H. The STATE has reviewed a feasibility report compiled by McLaughlin Water Engineers, Ltd., which is <br />incorporated herein by this reference, and, based upon the feasibility report, the STATE determined <br />the PROJECT to be technically and financially feasible. <br />Town of Morrison Page 1 of 13 <br />