C150003 PIF Documents

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

AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
R .G NUMBER:
` 3 $ 75,000
FEASIBI < � QR :'°L'''tOAN CONTRACT
THIS CONTRAC F a. his ° `' day /1 A 20 r 2000, by and
,. of
between the State of Col• e,• for the • -e and benefit of the Department of Natural Resources,
Colorado Water Conservati i j oard, hereinafter referred to as the CWCB and/or STATE, and the
Dolores Water Conservanc !strict, hereinafter referred to as the DISTRICT, and the Dolores
Water Conservancy District Water Activity Enterprise, hereinafter referred to as the BORROWER
and/or CONTRACTOR, 1st& Cactus Street, P.O. Box 1150, Cortez, CO 81321.
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, Organization YYYY, Appropriation Code FSL, GBL D003, Program WTRC, Object
Code 5480 Reporting Category 0003, Contract Encumbrance Number C150003.
5540
B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
C. Pursuant to the provisions of §§ 37-60-119 and 37-60-122(1)(c), C.R.S. (1998), the STATE is
authorized to loan money for the construction of certain water projects for the benefit of the
people of the State of Colorado, and to expend moneys for feasibility studies on such projects,
provided that the borrower assures repayment of that money.
D. The DISTRICT is a water conservancy district formed pursuant to and governed by Article 45 of
Title 37, C.R.S. (1998), located in Dolores and Montezuma Counties, Colorado.
E. The BORROWER is an enterprise within the meaning of§ 37-45.1-101 et seq., C.R.S. (1998) and
Article X, Section 20 of the Colorado Constitution, and was established by Resolution No. 93-02
of the Dolores Water Conservancy District, dated December 14, 1993. Said Resolution is
incorporated herein by reference.
F. The BORROWER has applied to the STATE for a loan to finance the costs of a feasibility study
(hereinafter referred to as STUDY) of alternatives for development of additional water supplies
(hereinafter referred to as PROJECT), at a cost of approximately$250,000.
G. At its July 13-14, 1998 meeting, the CWCB approved a loan to the DISTRICT and the BORROWER
in an amount not to exceed $75,000 or fifty percent (50%) of the cost of the STUDY at an interest
rate of 3.5% per annum for a term not to exceed 10 years to finance the costs of the STUDY.
H. The STATE now desires, by this contract, to loan money to the DISTRICT and the BORROWER for
this STUDY upon mutually agreeable terms and conditions.
NOW THEREFORE, in consideration of the mutual and dependent covenants contained, the
parties agree as follows:
Feasibility Report Loan Contract Page 1 of 8