C150003 PIF Documents

• Contract/PO #: C150003
• Contractor Name: Dolores Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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DOLORES WATER CONSERVANCY DISTRICT
RESOLUTION No. 00- 01
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RESOLUTION APPROVING THE LOAN OF $75,000 FROM THE COLORADO WATER
CONSERVATION BOARD TO THE DOLORES WATER CONSERVANCY DISTRICT AND
THE DOLORES WATER CONSERVANCY DISTRICT WATER ACTIVITY ENTERPRISE
TO PERFORM A FEASIBILITY STUDY FOR THE DEVELOPMENT OF ADDITIONAL
WATER SUPPLIES.
WHEREAS, the Dolores Water Conservancy District(the "District") is a water
conservancy district, located in Dolores and Montezuma Counties, Colorado, and established
pursuant to and governed by Colorado stattte,,;; .R.S. § 37-45-101, et sea., to conserve and
develop the water resources of the Dolores liv; d its tributaries in Southwest Colorado; and
• WHEREAS,the Dolores,Wt er Cons,ervanc istrict Water Activity Enterprise(the
"Enterprise")is an enterprise withnrl_, a m= ,:sti C.R.S. § 37-45.1-101 et seq., and Article X,
Section 20 of the Colors*,Constitu atm and*s"vas established by Resolution No. 93-02 of the
District, dated December 1= ;993; b
WF E AS,.t a Entefprisq a d the District applied to the Colorado Water Conservation
Board(the ' ,;uCB") for a!loan to finance the costs of a feasibility study(the "Study")of
alternatives for velopment of additional District water supplies (the "Project"), at a cost of
approximately S ‘.0 Q00.
Yr
WHEREAS, at its July 13-14, 1998 meeting,the CWCB approved a loan to the District and
the Enterprise in an amount not to exceed $75,000 or fifty percent(50%) of the cost of the Study,
whichever is less, at an interest rate of 3.5%per annum for a term of up to 10 years to finance the
costs of the Study(the "Loan"); and
WHEREAS,the CWCB now desires to loan money to the District and the Enterprise for
this Study and the District and the Enterprise desire to borrow the money upon the terms and
conditions set forth in Loan Contract C150003.
NOW,THEREFORE, BE IT RESOLVED that the Board of Directors of the District
hereby:
1. approves Loan Contract C150003 ("Loan Contract")providing a CWCB loan to the
District and the Enterprise to pay for the costs associated with preparing the Study,up to a
maximum amount of$75,000,but no more than one-half the cost of the study, at an interest rate
of 3.5% annually;
2. authorizes and instructs the District to:
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