C153701 PIF Contract

• Contract/PO #: C153701
• Contractor Name: Fort Morgan, City of
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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AGENCY NAME: Water Conservation Board
AGENCY NUMBER: FDA
ROUTING NUMBER: C1p()
ACT AMENDMENT No. 1
THIS AMENDMENT, made this 22nd day of June 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 City of Fort Morgan, Colorado, hereinafter referred to as the CITY, and the City of Fort
Morgan, Colorado, Water Works and Distribution Enterprise, 710 E. Railroad, P.O. Box
100, Fort Morgan, Colorado 80701, hereinafter referred to as the BORROWER and/or
CONTRACTOR.
FACTUAL RECITALS
A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
made available and a sufficient unencumbered balance thereof remains available for
payment in Fund Number 424, Appropriation Code 516, Contract Encumbrance Number
C153701.
B. Required approval, clearance, and coordination has been accomplished from and with
appropriate agencies.
C. The STATE, the CITY and the BORROWER entered into a contract dated August 7, 1995,
Contract Encumbrance Number C153701, hereinafter referred to as ORIGINAL CONTRACT,
which is incorporated herein by reference, wherein the STATE agreed to loan money in the
total amount of $5,500,000 to partially finance the CITY'S share of the cost of constructing
Phase 2 of the Southern Water Supply Project, hereinafter referred to as the PROJECT, and
the BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL
CONTRACT.
D. Part of the collateral required by the STATE for the loan made under the ORIGINAL CONTRACT
was a pledge of the CITY'S and BORROWER'S interest in the Southern Water Supply Project
Pipeline ("Pipeline") from the Carter Lake outlet to the eastern terminus of the Fort Lupton
line. In the ORIGINAL CONTRACT, the BORROWER pledged its contract rights under and the
proceeds of any sale of its interest in an Allotment Contract, dated August 4, 1995, with the
Northern Colorado Water Conservancy District acting by and through the Southern Water
Supply Project Water Activity Enterprise ("1995 Allotment Contract"). The 1995 Allotment
Contract allocates capacity to the BORROWER in the Pipeline from a certain point of delivery
on the Pipeline to the eastern terminus of the Fort Lupton line. Due to an oversight in the
contracting process, the BORROWER did not pledge its contract rights under and the
proceeds of any sale of its interest in an earlier Allotment Contract, dated January 14, 1994
("1994 Allotment Contract"), that allocates capacity to the BORROWER in the Pipeline from
Carter Lake to a certain point of delivery on the Pipeline. The parties are amending the
ORIGINAL CONTRACT to include the BORROWER'S pledge of its contract rights under and the
proceeds of any sale of its interest in the 1994 Allotment Contract and the Allotment
Contract, dated July 14, 1998, with the Northern Colorado Water Conservancy District
City of Fort Morgan,Colorado&City of Fort Morgan,
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