C153656 Paid in Full Contract

• Contract/PO #: C153656
• Contractor Name: Loloff Lateral Ditch Company
• Contract Type: Loan
• County: Weld
• Loan Projects - Doc Type: Contract Documents

DE. :MF"T OF AGENCY NAME
Water ervation Board
DEPARTMENT OR AGENCY NUMBER
. "�� PDA
' ROUTING NUMBER
'! S 71.500
1tI" CONTRACT
THIS CONTRACT,made this 2J 'day of Ao-t-ly `ems 1993,by and between the State of Colorado for the use
and benefit of the Department of NATURAL RESOURCES
(COLORADO WATER CONSERVATION BOARD)
hereinafter ferrcd to as the State,and The Loloff Lateral Ditch Company
24205 WCR 57, Kersey, CO 80644 hereinafter referred to as the contractor/Co tractor
or Borrower.
WHE ,authority exists in the Law and Funds have been budgeted,appropriated and otherwise made available and•a s fficient
unencumbe . balance thereof remains available for payment in Fund Number 424 ,Organization YYYY,Appropriation ' �l ,
Program •C,Object Code 5120,Contract Encumbrance Number, C i53 54. ;and
WHES,required approval,clearance and coordination have been accomplished from and with appropriate agencies; -nd
REAS, pursuant to the provisions of 37-60-119 and 37-60-120, Colorado R.vised
Statutes the State is authorized to loan money for the construction of water projects f r the
benefit pi f the people of the State provided that the Contractor assures repayment • that
money; d
oREAS, the Contractor is a duly constituted non-profit ditch company in the State
of Color:do and it wishes to replace its water delivery pipeline,hereinafter sometimes ailed
the proj ct, for the benefit of its stockholders in Weld County, Colorado, at an esti I, ated
cost of aP ne Hundred Forty-Two Thousand Dollars ($142,00); and
EREAS, the State now desires by this project contract to loan money f t r the
constru ion of said project upon mutually agreeable terms and conditions, subject o the
availabi ity of funding for that purpose; and
1.1off.con
REAS, pursuant to the Contractor's By-Laws, the Contractor has autho •ty to
contrac to borrow money provided that a Resolution be duly passed by the Bo.rd of
Trustee and to levy assessments assuring repayment of the State according to the to s of
the con ract; and
Page 1 of 11 pages
APPENDIX C