PROJ00110

• Contract/PO #: C153491
• Contractor Name: Upper Yampa Water Conservancy District
• Contract Type: Loan
• Water District: 0
• County: Routt
• Bill Number: HB 83-1102
• Loan Projects - Doc Type: Contract Documents

the Contrac[o� CRrough i[s duly authorized officials, as may be
modified from Cime [o Cime. T�e initial cate schedule mus[ be
approved by [he Sta[e. Thereafter, the ContCactor may, subject
[o the approval of the Sta[e, maKe such modifications Co Che
rate schedule as tAe Contractor deems necessa�Y to efficiently
and economically provide for che financial re9ui�ements of the
sys[em as long as [he rate schedule remains reasonable and non-
disc�iminatory. .
10. Adjust its opera[ing cos[s and serviCe chacqes fcom
time to time [o p�ovide Eor adequa[e opera[ion and maintenance,
emergency repair services, obsolescence ceseeves, and debt
reserves.
11. Provide the S[ate with such periodic reports on the
condition, operati0n, and maintenance of [he project as the
Sta[e may requice and permit periodic inspecCions of its
operations and financial accounts and records by a designated
cepresen[ative of [he S[ate.
12. obtain and maintain qeneral fire and hazard ins�cance
on the projec[�s d2m struc[ure and power house to [he extent of
those facilities' Ceplacemen[ cos[, said insurance to cover
losses occurring dUe Co floods, fice, mud, rock slides, hail,
wind, smoke, explosion, and vandalism.
13. Comply wiCh Che Construction Fund Pcogram Peocedu�ea
attached here[o as Exhibit A and incorpora[ed by reference
herein.
19. Comply wi[h [he pcovisions oE section 37-60-120,
Colorado Revised SCa[utes, and any o[her applicable statutes,
procedu[es, requicements, rules, o� regulations which the State
has.
15. Implement the si[e developmen[ plan approved by the
Colorado General A5sembly, which plan is attached hereto as
Exhibit B and incoCpoca[ed by reference herein, and provide for
[he annual operation and maintenance of all of [he lands and
facilities included in the said plan at no expense to Che Sta[e
and in a mannet satisfactory to the Colorado Water Conservation
Board.
16. Devote not less than 15,000 acre-fee[ of Che project�s
rese�voir capaci[y to water supply purposes aAd operate the
ProjecC in a mannec which recognizes and attains these purposes
and which enables Che Con[ractor Co mee[ all of i[s financial
obliqations associated wi[h the pcoject.
17. Repay Co the State Six Million Six Hundred Thousand
Dollacs ($6,fi00,000) with in[erest thereon at [he rate of five
peccent (St) pec annum, said repayment [o be made in
semi-annual installmen[s as shown in Exhibit C. a[tached hereto
and incorpo[a[ed by refecence hecein, with tAe first of such
installmen[s being due and payable on May 15 of the year
following Che yeat in which Che project resecVOir first fills
to 25,000 acce-feet. Subsequent installments shall be due and
payable semi-annually [AereaEter on November 15 and May 15 of
each year. Said semi-annual ins[allment payments shall be made
payable [o Che Colorado Water Consecvation Boacd at the offices
of said Board in Denver, Colo[ado.
18. In order to evidence its obliga[ions [o provide for
the paymen[ of Che p�incipal of Che loan made to Che Contractor
pursuant to this aqceemen[ and the interest oO such loan, the
Contractor has issued its Water Conservancy Bond (Limited Tax),
1987 Series A in [he p[incipal amount oE Six Million Six
Hundred TAOUSand Dollars ($6,600,000) (herein the '�BOnd°)
pursuant to a resolution adopted on April 15, 1987 (the
"Resolu[ion°). The full fai[h and credit of rhe Contcactor are
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