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Sanchez Dam <br /> . w/PB DEPARTMENT I NCY NAME <br /> Water Conser m Board <br /> DEPARTMENT OR AGENCY NUMBER <br /> PDA <br /> ROUTING NUMBER <br /> $200, 000 <br /> PROJECT' CONTRACT <br /> 4_pi <br /> THIS CONTRACT,made this A/,/ day of �A.�y� 199 an etwe t f..Colorado for the <br /> use and benefit of the Department of NATURAL RESOURCES Er ls. <br /> a <br /> (COLORADO WATER CONSERVATION BOARD) , <br /> hereinafter referred to as the State,and THE SANCHEZ DITCH AND RESERVOIR COMPANY, <br /> R.R. 1, Box 215, San Acacio, CO 81150, <br /> hereinafter referred to as the contractor/Contractor or Borrower. <br /> WHEREAS,authority exists in the Law and Funds have been budgeted,appropriated and otherwise made available and a sufficient <br /> unencumbered balance thereof remains available for payment in Fund Number 462,Organization YYYY,Appropriation 434 ,Program <br /> WTRC,Object Code 5120,Contract Encumbrance Number, h, ) 3 3 ;and <br /> WHEREAS,required approval,clearance and coordination have been accomplished from and with appropriate agencies;and <br /> WHEREAS, pursuant to the provisions of Sections 37-60-119 <br /> and 37-60-120, Colorado Revised Statutes, the State is <br /> authorized to loan money for the construction of water projects <br /> for the benefit of the people of the State provided that the <br /> Contractor assures repayment of that money; and <br /> WHEREAS, the Contractor is a duly constituted Mutual Ditch <br /> Company formed under Section 7-42-101, C.R. S. , in the State of <br /> Colorado and it had to make emergency repairs to the Sanchez dam <br /> and reservoir at a cost of Eighty Thousand Dollars ($80, 000) in <br /> order to store its decreed amount of water during 1992 ; and <br /> WHEREAS, this emergency repair work is to be considered as <br /> the first phase of a total rehabilitation project on the Sanchez <br /> Dam and Reservoir that has a total estimated cost of Four <br /> Hundred Thousand Dollars ($400, 000) , which amount also includes <br /> Seventy Thousand Dollars ($70, 000) to pay off an existing high- <br /> Page 1 of 17 Pages <br />