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C150365 Contract
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C150365 Contract
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Last modified
12/18/2015 3:53:49 PM
Creation date
3/3/2014 4:16:40 PM
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Loan Projects
Contract/PO #
CT2015-006
C150365
Contractor Name
Santa Maria Reservoir Company
Contract Type
Loan
Water District
20
County
Hinsdale
Loan Projects - Doc Type
Contract Documents
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BORROWER: SANTA MARIA AGENCY NAME: COLORADO WATER <br /> RESERVOIR COMPANY CONSERVATION BOARD <br /> CONTRACT No. C150365 AGENCY NUMBER: PDA <br /> REQUESTED LOAN AMOUNT $3,041,250 CONTRACT TYPE: LOAN/PRIVATE <br /> LOAN SERVICE FEE $30,413 CWCB CMS #62274 <br /> TOTAL LOAN AMOUNT $3,071,663 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT, made between the State of Colorado for the use and benefit of The <br /> Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or <br /> "STATE"), and Santa Maria Reservoir Company ("BORROWER"), P.O. Box 288, Monte Vista, <br /> CO 81144, a mutual reservoir corporation under C.R.S. §7-42-101 et seq. and a Colorado <br /> nonprofit corporation. <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br /> made available and a sufficient unencumbered balance thereof remains available for <br /> encumbering and subsequent payment of this CONTRACT under: Contract Encumbrance <br /> No. C150365, Fund Number 424, Appropriation Code M14, Organization YYYY, GBL <br /> S365, Program WTRC, Object Code 5882, Reporting Category 0365; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies; and <br /> 3. On September 25, 2013, CWCB approved a loan request from the BORROWER for the <br /> Continental Dam Spillway Restoration Project ("PROJECT"), to rehabilitate the <br /> Continental Dam and restore the full storage capacity of the reservoir. The total cost of <br /> the PROJECT is estimated to be $4,055,000. The BORROWER was approved for a <br /> $1,013,750 grant (C150528), by the Rio Grande Basin Roundtable, from the Water <br /> Supply Reserve Fund and the BORROWER requested a CWCB loan to assist with <br /> PROJECT Costs; and <br /> 4. The PROJECT SUMMARY attached as APPENDIX 1 and incorporated herein, contains <br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's <br /> authority for making this loan (Section 3), and CWCB Approval and Legislative <br /> Authorization which identifies the amount of the loan and the terms of repayment <br /> (Section 4); and <br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions. <br /> THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br /> amount of the funds loaned by CWCB to the BORROWER for the PROJECT and (2) a <br /> Loan Contract C150365 <br /> Page 1 of 11 <br />
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