C150317 Contract - Laserfiche WebLink

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SECTION 5—SCHEDULE OF EXISTING PARITY BONDS The Borrower's governmental agency bond, issued to the Colorado Water Resources and Power Development Authority on July 15, 2009, in the original principal amount of $2,000,000; and The Borrower's Taxable Water Revenue Bonds, Series 2009, issued on July 15, 2009, in the original principal amount of$500,000. SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS CWCB will not disburse loan funds until Borrower notifies the CWCB in writing that all legal issues concerning the purchase of Animas-La Plata (A-LP) project water are resolved and Borrower provides CWCB with an executed agreement for the use of the A-LP intake structure. SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES FOR WATER PURCHASE PROJECTS A. The BORROWER must submit a written appraisal or opinion of value from a qualified water rights appraiser supporting the purchase price prior to disbursal of loan funds for the water purchase. B. The BORROWER shall pay their portion of all of the expenses related to the WATER PURCHASE, as agreed to in the agreement between the BORROWER and the La Plata West Water Authority, when such bills are due. SECTION 8—CONSTRUCTION FUND PROGRAM PROCEDURES A. Engineering contracts, plans and specifications must be submitted to the CWCB staff for verification of compliance with the terms of this CONTRACT when available prior to bidding. Any modifications to the plans and specifications, that effect changes to the construction costs, must be approved in writing by the CWCB. B. For plans and specifications for all jurisdictional dams and reservoirs, as defined by § 37- 87-105 C.R.S., the BORROWER shall provide a letter of approval from the State Engineer's Office prior to construction, if required. C. The BORROWER shall notify CWCB of the bid opening date, time and location. D. CWCB must approve the award of the construction contract. E. The BORROWER must provide a copy of the executed construction contract documents consisting of the contractor's proposal, construction contract, performance bond, payment bond, notice of award, notice to proceed, sample change order, and sample field order, as well as the advertisement for bid and bid bond at bidding. After the CWCB staff verifies that these documents comply with the terms of this CONTRACT, a notice to proceed may be issued. F. The BORROWER shall construct the PROJECT in accordance with the approved plans and specifications. Appendix 1 to Loan Contract C150317 Page 2 of 4