PROJ00212

• Contract/PO #: C153449
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

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DEP,,- 104 T OR AGENCY NUMBER
34-04-00
CONTRACT KO JIIG NUMBER
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FlJlm 6.AC.02A
WFPB

PROJECT
CONTRACT

$1,287,500

THIS CONTRACT. made this 1st day of October 19B5, by and between the
Stple of Colorado for the use and bendil of the Department of.1 Natural Resources
{Colorado Water conservation Board) ,
hereinafter referred to as the Sutc, and "2 The North Poudre Irriqation Company,
P. D. Box 100. wellinaton. CO 80549
hereinafter referred to as the contractor or the Borrower.

WHEREAS, authority exists in the Law and Funds have been budgeted. appropriated and otherwise made
available and a sufficient unencllmbered balance thereol remains ~il.~~ for rayment in Fund Number 4 008 .
G/L Account Number5414X . Contract Encumbrance Number 'if)" i/1/9; and
ABL Account Number 14141, Org. Unit 77-77-777,
WHEREAS. required approval. clearance and coordination has been accomplished (rom and with appropriate
agencies: and

WHEREAS, pursuant to the provisions of 37-60-119, Colorado
Revised Statutes, the State is authorized to loan money for the
construction of water projects for the benefit of the people of
the State; and

WHEREAS, the Borrower is an irrigation company in the
State of Colorado and wishes to improve, or cause to be
improved, its Reservoir No. 15 Dam, hereinafter called the
project, for the stockholders of the North poudre Irrigation
Company in Larimer County, Colorado, at an estimated cost of
Two Million Six Hundred Thousand Dollars ($2,600,000); and

WHEREAS, a feasibility investigation of said project was
conducted and it waS found that such a project is technically
and financially feasible; and

WHEREAS, on October 1, 1985, the State and the Borrower
entered into an agreement (attached as Exhibit A and
incorporated by reference herein and hereinafter referred to as
the termination con~act) which terminated a feasibility report
contract (attached as Exhibit B and incorporated by reference
herein) previously entered into between the parties.

WHEREAS, the termination contract provided that the
Borrower would pay the State Sixteen Thousand One Hundred
Eighty-Seven Dollars and Fifty Cents ($16,187.50) under the
terms aod conditions of this contract in consideration of the
State's partial financing of the feasibility report for the
projectj and

WHEREAS, the State has now agreed to loan money for the
construction of said project upon mutually agreeable terms and
conditions, subject to the availability of funding for that
purposej and the State and the Borrower agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project loanj and

WHEREAS, pursuant to House Bill No. 1042, Fifty-Fifth
General Assembly of the State of Colorado, duly enacted into
l~w; the Colorado water ConservatiuCl Board has been authorized
to loan a sum not to exceed One Million Three Hundred Thousand
Dollars $1,300,000) for construction of the project;

NOW THEREFORE, in consideration of the mutual and
dependent covenants herein contained, it is agreed by the
parties hereto as. follows:

A. The Borrower agrees that it shall:

1. Employ an engineering firm to prepare project plans
and specifications tor the project. Both the engineering firm

395-5J.ol-C010

Page I of.-!!..",ges.
.cSee inslructions on ""Ifle of lilt paae.)

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