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<br />..... ,',';..,,: <br /> <br />"J;, <br /> <br />, ,h ~ <br /> <br />11J1)'\1<1\1I'\,1'11< 'H.~'l \ ~ <br />34- O. <br /> <br />:";~'B <br />Sante. r';u'ia & <br />Continental Dams <br /> <br />(,'0:-" <br /> <br /> <br />P!'lOJECT <br />CONTRACT <br /> <br />1911 ~ . bv ~nd b~lwe~n tht <br />Natural Resources <br /> <br />THIS CONTRACI. made' Ihis 8th day of t-1ay <br />StOlle uf Colorado for th~ u!tC' and I'tendit of t;,~ Oell..rtmenl of .1 <br />(Colorado Water Cons~rvation Board) , <br />h~reinafl~r rrfrrnd 10 as Ihr Slalt. and '2 The Santa Ilar ~a <br />P. O. Box 288, Monte Vista, CO 81144, <br />h~r~inahC'r referred 10 as the ('onnatlor /Contractor. <br /> <br />Heservo~r Company, <br /> <br />WHEREAS. authority cxislS in the Law and Funds have been budp;eled, approprilued and otherwi~e made <br />availOlblt ..nd II surficienl unencumbered bOllallcr thereof ~mains available fOr pavmenl in Fund l'.umhC'f 4008 <br />G/L Accuunl Numbt'r 5418X. Clllllnet Enellmbranu Numbe~J <-:t~~-1': ~nd <br />ABL Account No. 14180, Org. Unit 77-77-777, <br /> <br />.WHEREAS. rel.luircd arrruvOlt. clt::Ir:mce :md coordinatiun hali been accomplished (rom and with appropriate <br />"ge-nelC's: and <br /> <br />WHER~AS. pursuant to the provisions of 37-60-119 and <br />37-60-120. Colorado Revised Statutes. the State is authorized <br />to loan money for the construction of water projects for the <br />benefit of the people of the State provided that the Contractor <br />assures repayment of that money; and <br /> <br />WHEREAS. the Contractor is a duly constituted corporation <br />in the State of Colorado and it wishes to repair the Santa <br />Maria and Continental Dams. hereinafter sometimes called the <br />project. for the benefit of the reservoir company in Hinsdale <br />and Mineral Counties. Colorado. at an estimated cost of Four <br />Hundred Fifty-four Thousand Dollars ($454.000); and <br /> <br />WHEREAS. on September 1. 1987. the parties entered into a <br />feasibility report contract. attached hereto as Exhibit B. A <br />feasibility investigation of said project was conducted and the <br />State has determined that such a project is technically and <br />financially feasible; and <br /> <br />WHEREAS. on December 14 .1988. the State and the <br />Contractor entered into a termination contract. attached hereto <br />as Exhibit'A. which terminated in part and amended Exhibit B. <br />the feasibility report contract previOUSly entered into between <br />the parties; and <br /> <br />WHEREAS. the termination contract provides that the <br />Contractor will repay to the State the principal amount of <br />Thirty-Three Thousand Six Hundred Dollars ($33,600) under the <br />terms and conditions of that Exhibit A termination contract in <br />consideration of the State's partial financing of the <br />feasibility report for the project pursuant to the Exhibit B <br />feasibility report contract; and <br /> <br />WHEREAS. the State now desires by this project contract to <br />loan money for the construction of said project upon mutually <br />agreeable terms and conditions. subject to the availability of <br />funding for that purpose; and <br /> <br />WHEREAS. the State and the Contractor agree that the <br />repayment of the feasibility report funding shall be <br />consolidated with the repayment of the project construction <br />loan; and <br /> <br />WHEREAS. pursuant to the authorization Contractor has <br />obtained from its stockholders. Contractors has the authority <br />to borrow money for the rehabilitation of Santa Maria and <br />Continental Reservoirs; and <br /> <br />7280C: <br /> <br />::I95-5J.<ll-lO'M <br /> <br />ATTACHMENT B <br /> <br />~ <br /> <br />c <br />