PROJ00063

• Contract/PO #: C153533
• Contractor Name: Santa Maria Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Hinsdale
• Bill Number: SB 88-30
• Loan Projects - Doc Type: Contract Documents

PROJECT
CONTRACT

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198 ~ . by and belween lhe
Natural Resources

THIS CONTRACT. madr this 8th day of Hay
Slale ur Colorado for the u~e and penefil or lne Oerarlmenl or '1
(Colorado Nater Conservation Board),
hereinafter I't'rel'T'ed 10 as the Slate. and '2 The Santa llarla
P. O. Box 288, !lonte Vista, CO 81144,
hereinaher referred 10 as Ihr conlraclor /Contractor.

HeservOlr company,

WHEREAS. aU1hority exists in the uw and Funds have been budgeted. appropriated and olherwi~e made
availllhle and a suflicien1 unencumhered balance thereof remains available for pavmenl in Fund ~umher 4008
G/l Account Number 54l8X. ConlraCI Encumbrance Numbe~/.<-'?5':i.f': ~nd . .
ABL Account No. 14180, Org. Unit 77-77-777,

.WHEREAS. re4uircd arflrmal. clearance lmd coordinalion has been accomplish{"d from and with <lrpropriate
IIgeneles: and

WHER~AS, pursuant to the provisions of 37-60-119 and
37-60-120. Coloraao Revised Statutes. the State is authorizea
to loan money for the construction of water projects for the
benefit of the people of the State provided that the Contractor
assures repayment of that money; ana

WHEREAS. the Contractor is a duly constituted corporation
in the State of Coloraao and it wishes to repair the Santa
Maria and Continental Dams. hereinafter sometimes callea the
project. for the benefit of the reservoir company in Hinsdale
and Mineral Counties. Colorado. at an estimated cost of Four
Hundred Fifty-Four Thousand Dollars ($454.000); and

WHEREAS. on September 1. 1987. the parties entered into a
feasibility report contract. attached hereto as Exhibit B. A
feasibility investigation of said project was conducted and the
State has determined that such a project is technically and
financially feasible; and

WHEREAS. on December 14 .1988. the State and the
Contractor entered into a termination contract. attached hereto
as Exhibit'A. which terminated in part and amenaed Exhibit B.
the feasibility report contract previOUSly entered into between
the parties; and

WHEREAS. the termination contract provides that the
Contractor will repay to the State the principal amount of
Thirty-Three Thousand Six Hunared Dollars ($33.600) under the
terms and conditions of that Exhibit A termination contract in
consiaeration of the Statets partial financing of the
feasibility report for the project pursuant to the Exhibit H
feasibility report contract; and

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WHEREAS. the State now desires by this project contract to
loan money for the construction of said project upon mutually
agreeable terms and conditions. subject to the availability of
funding for that purpose; and

WHERr:AS. the State and the Contractor agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project construction
loan; and

WHEREAS. pursuant to the authorization Contractor has
obtained from its stockholders. Contractors has the authority
to borrow money for the rehabilitation of Santa Maria and
Continental Reservoirs; and

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