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<br /> )i AND r AGENCY NAME: Water Conservation Board
<br /> DAT Mp��� L� , AGENCY NUMBER: PDA
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<br /> Kathyy cmott, public ROUTING NUMBER: 97 PDA ©/Q2 2
<br /> Pr.,-,, ublic Trustee je,
<br /> �Ounty, Colorado
<br /> $750,000
<br /> �,�
<br /> .4 k, Zi LOAN CONTRACT & PROMISSORY NOT
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<br /> THIS CONTRACT, made this /) day of / �"/,f yJif�,/� 1996, by
<br /> andbetween
<br /> Q the State of Colorado for the use and benefit of the D partment of Natural Resources, Colorado
<br /> iWater Conservation Board (CWCB), hereinafter referred to as the STATE, and Beaver Park Water,Inc.,hereinafter referred to as the BORROWER and/ r CONTRACTOR.
<br /> FACTUAL RECITALS /
<br /> C_T)
<br /> r1-', :-
<br /> A. Authority exists in the law, and funds have been budgeted, appropriated and qtherwise c>4
<br /> r; made available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br /> Number 424, Organization YYYY, Appropriatipn 500, Program WTRC, Object Code 5120, Contract
<br /> Encumbrance Number C153742. I
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<br /> B. Required approval, clearance, ands,coordination have been accomplished from Wand with SI
<br /> appropriate agencies.
<br /> 1.1 C. Pursuant to the provisions of §§ 3 -60-119 and 37-60-120, 15 C.R.S. (1990 and Supp.
<br /> r1996) the STATE is authorized to loan money for the construction er o' cts for the benefit
<br /> t-of the people of the STATE, provided that the Borrower assures r z: t t t oney.
<br /> D. The BORROWER is a duly constituted Colorado mutual ditch company ormed pu suant to ,
<br /> T, § 7-42-101 et seq. C.R.S., located in Fremont County, St MOlo
<br /> E. The BORROWER has applied to the TATE for a loan I:It u f of Brush C
<br /> Hollow Dam, hereinafter referred to as PRoJE T.
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<br /> F. A feasibility report conducted by oodward-Clyde Consultants, and incorporated herein
<br /> by reference, and financed in part by CWCB ( easibility Report Contract #C153671 dated April 13,
<br /> 1994), was reviewed by the STATE and, base41 upon this feasibility report, the STATE determined the
<br /> PROJECT to be technically and financially feasjible.
<br /> "--\ G. At its November 9-10, 1993, meeting, the CWCB approved a loan to the BORROWER in an
<br /> 6o amount not to exceed $750,000 at an inter:st rate of 31/2% per annum, and for a duration of 30vi
<br /> v years.
<br /> V.Z. 'N :'g•i
<br /> 1= H. Pursuant to 1994 Colo. Sess. L;ws, Section 1, Chapter 265, the Colorado General
<br /> ,� Assembly authorized CWCB to loan to the Bo•ROWER an amount not to exceed $750,000 for a term
<br /> of 30 years for the PROJECT. ,4
<br /> Beaver Park Water, Inc. P.ge 1 of 12 Loan Contract
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