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,\ AGENCY NAME: Water Conservation Board AGENCY NUMBER: PDA ROUTING NUMBER: (J /01 G $ 6S,,<QJ<QJ<Q, lFlEASIIIB\1I1LIITY R1E1P'ORT !LOAN CONTRACT . This CorntJrillct, made this / J day of~m.f{;? 1997,byand between the State of Colorado for the use and benefit of th epartment of Natural Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to as the STATE, and the LOWER ARKANSAS WATER MANAGEMENT ASSOCIATION, P. O. Box 1161, Lamar, CO 81052 hereinafter referred to as the BORROWER and/or CONTRACTOR. IFACTUAIL RECITALS A. 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 FSL, GBL L756, Program WTRC, Object Code 5120, Reporting Category 3756, Contract Encumbrance Number C153756 . . B. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. C, Pursuant to the provisions of SS 37-60-119 and 37-60-122(1)(c),C.R.S. (1990 and Supp. 1996), the STATE is authorized to loan money for the construction of certain water projects for . the benefit of the people of the State of Colorado, and to expend monies for feasibility studies on such projects, provided that the borrower assures repayment of that money. D. The BORROWER has applied to the STATE for a loan to conduCt a feasibility study for obtaining additional water sources for its augmentation program in the Arkansas River Basin, hereinafter referred to as STUDY, at a cost of $65,000. E. The BORROWER is a duly constituted Colorado non-profit corporation formed under S 31-24-1 et sea. C.R.S., for the primary purpose of providing replacement water to its members. F. At its January 29-30, 1997, meeting, the CWCB approved a loan to the BORROWER in an amount not to exceed $65,000 (100% of the cost of the STUDY) at an interest rate of 3X.% per annum, and for a duration of 10 years. G. The STATE now desires, by this contract, to loan money to the BORROWER for this STUDY upon mutually agreeable terms and conditions. NOW THEREFORE, in consideration of the mutual and dependent covenants contained, the parties agree as follows: 1. Preparation Of Feasibility Report. The BORROWER shall have a feasibility report prepared on the PROJECT. The State has approved a scope of study for the Feasibility Report prepared by the BORROWER. The scope of study is attached hereto as Appendix A and incorporated herein. 2. Final Report. Two (2) copies of the final report of the feasibility study prepared in compliance Feasibility Report Loan Contract Page 1 of 9