C153300 Paid in Full Contract

• Contract/PO #: C153300
• Contractor Name: Lake Canal Reservoir Company
• Contract Type: Loan
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

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Form 6-AC-02A � �B �� ���
DEI kR NT OR AGENCY NUMBER
34-04-00
• Con IRACT ROTTING NI'NIBilk
5470
li t $160,000p Oa. ,. CONTRACT
THIS COIF:�,� f ;I ti S t day of July 197_§, by and between the
Sta •' .; .ra F. e it of the Department of "1 Natural Resources -
- ,` Colorado Water Conservation Board)
here v er •a'to as the State, and
`2 The Lake Canal Reservoir Company,
300 Yale Way, Fort Collins , Colorado 8D521
hereinafter referred to as the contractor,
WHEREAS, 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 4008_
G/L Account Number 57127, Contract Encumbrance Number C151300 ; and
WHEREAS, required approval, clearance and coordination has been accomplished from and with appropriate
agencies; and
WHEREAS, '3pursuant to Title 37 , Article 60, Colorado Revised Statutes
1973 , as amended, the State , through the Colorado Water Conservation
Board, may construct water resource projects and make the waters
available therefrom to the residents of the State of Colorado upon
conditions to be determined by the Colorado Water Conservation Board;
and
WHEREAS , the Contractor is a duly constituted and organized
irrigation company in the State of Colorado and has undertaken the
reconstruction and rehabilitation of the Gray Lakes Reservoirs in
Larimer County, a principal component of the irrigation system owned
by the Contractor, which rehabilitation and reconstruction is estimated
to cost approximately $185,000; and
WHEREAS , the parties hereto have jointly conducted a feasibility
investigation of said project and have found that such project is
economically feasible ; and
WHEREAS , the State , through the Colorado Water Conservation Board,
has agreed to participate in the reconstruction and rehabilitation of
said project and to sell the same to the Contractor upon mutually
agreeable terms and conditions ; and
WHEREAS , pursuant to Senate Bill number 35 , Fifty-first General
Assembly of the State of Colorado, duly enacted by the Colorado
General Assembly and approved by the Governor of the State of Colorado,
there was appropriated to the Colorado Water Conservation Board the sum
of $160,000 for construction of the Gray Lakes irrigation project ; and
WHEREAS , the Contractor has available from its own sources
sufficient funds to construct the remainder of the project;
NOW THEREFORE , in consideration of • the mutual and dependent
covenants herein contained, it is agreed by the parties hereto as
follows :
1. The Contractor agrees that it will :
a. Cause said project to be constructed within one year of the
date of this contract in accordance with the project plans and
specifications already approved by the State , and any necessary
modification thereof prepared by it and also approved by the
state unless such time is extended by the State , or unless such
time is insufficient because of the acts of God or other acts
or failure to act beyond the control of the Contractor.
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