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<br />• S AGENCY NAME: Water Conservation Board
<br />>li
<br /> i AGENCY NUMBER: PDA
<br /> ROUTING NUMBER: 97 PDA 10/02 2 Z
<br /> Ky
<br /> $750,000
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<br /> A
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<br /> LOAN CONTRACT & PROMISSORY NOTE
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<br /> THIS CONTRACT, made this'' '. / 7 day of 67f) /JJe_ 1996,by and between
<br /> the State of Colorado for the use and benefit of the D partment of Natural Resources, Colorado
<br /> Water Conservation Board (CWCB), hereinafter referred to as the STATE, and Beaver Park Water,Inc.,
<br /> hereinafter referred to as the BORROWER and/or CONTRACTOR.
<br /> - FACTUAL RECITALS
<br /> Is -
<br /> A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise cx
<br /> &, made available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br /> Number 424, Organization YYYY, Appropriation 500, Program WTRC, Object Code 5120, Contract '
<br /> s 0 Encumbrance Number C153742. IN
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<br /> B. Required approval, clearance, and coordination have been accomplished from and with
<br /> appropriate agencies.
<br /> iN..
<br /> Pursuant to the provisions of §§ 37-60-1 19 and 37-60-120, 15 C.R.S. (1990 and Supp.
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<br />� C.
<br /> 3 �c 1996) the STATE is authorized to loan money for the construction,,.. . .er • o• cts for the benefit 1:1
<br /> of the people of the STATE, provided that the Borrower assures r- r .1.',1 t t t oney.
<br /> D. The BORROWER is a duly constituted Colorado mutual ditch company ormed pursuant to I
<br /> >,,, § 7-42-101 et seq. C.R.S., located in Fremont County, Stie Iiipplolt
<br /> E. The BORROWER has applied to the STATE for a loan to be u r f :.. .,.of Brush C;
<br /> NN., Hollow Dam, hereinafter referred to as PROJECT. _
<br />.'* '''''`A,
<br /> F. A feasibility report conducted by Woodward-Clyde Consultants, and incorporated herein
<br /> by reference, and financed in part by CWCB (Feasibility Report Contract #C153671 dated April 13,
<br /> 1994), was reviewed by the STATE and, based upon this feasibility report, the STATE determined the
<br /> PROJECT to be technically and financially feasible.
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<br /> G. At its November 9-10, 1993, meeting, the CWCB approved a loan to the BORROWER in an
<br />• amount not to exceed $750,000 at an interest rate of 31/2% per annum, and for a duration of 30
<br />✓ years. C...7-\
<br /> o P. H. Pursuant to 1994 Colo. Sess. Laws, Section 1, Chapter 265, the Colorado General Q
<br /> 1 ,� Assembly authorized CWCB to loan to the BORROWER an amount not to exceed $750,000 for a term
<br /> ,q A of 30 years for the PROJECT. 4
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<br /> Beaver Park Water, Inc. Page 1 of 12 Loan Contract
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