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<br /> .v AGENCY NAME: Water Conservation Board
<br /> AGENCY NUMBER: PDA
<br /> ROUTING NUMBER: 97 PDA C/®2 2
<br /> $750,000
<br /> C
<br /> ' 1)
<br /> LOAN CONTRACT & PROMISSORY NOTE
<br /> V THIS CONTRACT, made this /, day of / 7, Jn 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 /> til
<br /> C)
<br /> FACTUAL RECITALS
<br /> 1 A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise cx
<br /> i' N.
<br /> ` made available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br /> `. i Number 424, Organization YYYY, Appropriation 500, Program WTRC, Object Code 5120, Contract
<br /> Encumbrance Number Cl 53742. I
<br /> B. Required approval, clearance, and coordination have been accomplished from and with
<br /> appropriate agencies.
<br /> . **\
<br /> C. Pursuant to theprovisions of §§ 37-60-1 19 and 37-60-120, 15 C.R.S. (1990 and
<br /> Supp.
<br /> 1996) the STATE is authorized to loan money for the construction er o. cts for the benefit
<br /> of the people of the STATE, provided that the Borrower assures r t t t oney.
<br /> 1Q1),.,..1
<br /> D. The BORROWER is a duly constituted Colorado mutual ditch company ormed pursuant to
<br /> § 7-42-101 et ::: ::t:le:
<br /> C.R.S., ld Fremont County, St to
<br /> E. The to the STATE for a loan o
<br /> be u flailof Brush
<br /> 1,,t
<br /> Hollow Dam, hereinafter referred to as PROJECT.
<br />:).:z11--..
<br /> F. A feasibility report conducted by Woodward-Clyde Consultants, and incorporated herein
<br /> A
<br /> `� by reference, and financed in part by CWCB (Feasibility Report Contract #C153671 dated 13,
<br /> April
<br /> 1994), was reviewed by the STATE and, based upon this feasibility report, the STATE determined the
<br /> iPROJECT to be technically and financially feasible.
<br /> '1 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 3'/2% per annum, and for a duration of 30 1,;
<br /> �
<br /> v years.
<br /> E� w
<br /> 1= H. Pursuant to 1994 Colo. Sess. Laws, Section 1, Chapter 265, the Colorado General
<br /> ,� Assembly authorized CWCB to loan to the BORROWER an amount not to exceed $750,000 for a term ,4 I
<br /> of 30 years for the PROJECT.
<br /> $1) . Beaver Park Water, Inc. Page 1 of 12 Loan Contract
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