C-153757 PIF

• Contract/PO #: C-153757
• Contractor Name: Decker Lateral Company, The
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER:
$100,000
LOAN CONTRACT
THIS CONTRACT, made this /7 day of1997, by
and between the State of Colorado for the use and benefit of the Department of Natural
Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to as the STATE,
and The Decker Lateral Company, a Colorado nonprofit corporation, 30896 WCR 57, Gill, CO
80624, hereinafter referred to as the BORROWER and/or CONTRACTOR.
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available for payment in
Fund Number 424, Organization YYYY, Appropriation SPL, GBL D757 Program WTRC,
Object Code 5120, Reporting Category: 3757, Contract Encumbrance Number C153757.
2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
3. Pursuant to the provisions of§§ 37-60-119 and 37-60-120, 15 C.R.S. (1990 and Supp. 1996)
the STATE is authorized to loan money for the construction of water projects for the benefit of
the people of the STATE, provided that the borrower assures repayment of that money.
4. Section 37-60-122.7, C.R.S. (Supp. 1996) authorizes the STATE to make loans of up to
$100,000 from the Small Project Loan Account of the Construction Fund without prior
approval from the General Assembly if the STATE determines that delay would result in undue
hardship on the borrower.
5. The BORROWER is a duly constituted Colorado nonprofit corporation located in Weld County,
State of Colorado.
6. The BORROWER has applied to the STATE for a loan to be usirt 'I.+ l�bilitation
of its ditch, hereinafter referred to as PROJECT, at an estimat o • 4
7. The STATE has reviewed a feasibility report prepared by the U.S. Natural Resources
Conservation Service and the CWCB staff, which is incorporated herein by reference, and,
based upon this feasibility report, the STATE determined the PROJECT to be technically and
financially feasible.
8. This loan qualifies as a Small Project Loan in accordance with § 37-60-122.7, C.R.S. (Supp.
1996), because the amount of the loan does not exceed $100,000 and the BORROWER will
suffer undue hardship if the PROJECT is not completed prior to the 1998 irrigation season due
to water losses caused by the poor condition of the BORROWER'S ditch.
9. At its September 9, 1996 meeting, the CWCB found that delay in completion of the PROJECT
would cause undue hardship for the BORROWER'S stockholders, and approved a loan from the
The Decker Lateral Company Page 1 of 14 Loan Contract