PROJ00327

• Contract/PO #: C153465
• Contractor Name: City of Cortez and Dolores Water Conservancy District
• Contract Type: Loan
• Water District: 71
• County: Dolores
• Bill Number: HB 83-1102
• Loan Projects - Doc Type: Contract Documents

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ORDI~1~J1CE NO. fiq4
SERIES 1988

AN CRDIiW,JCE AUI'!JORI3I:lG TIlE APPROVAL OF A cor1I'RACT P1ID ADDElIDl~!
COfITP.ACT 3E:liJEEN TIJE COLOm:s \7ATEP. CONSmVAI~CY DISTRICT. TIlE
COLORikrxJ PATER CDNSERVATIO:l BOARD. AND BE CITY 0F COP.TEZ, FOR 'liTE
CONSTIlUCTIDN rum mSTAIlATlON OF A RAH HATER LTI-lE, A{X)UISITION OF
F.ASllJENTS, DUCTI!.E IRON PIPE, ELEVEN VAtJ'~TS. AIR PELEASE VALVES. AIm
FIVE DP.Alll VALVES, Arm RElATID 1'7ATER UITLlTY TIlPROVl'ME!ITS AND
nECESSARY I:1C!DElITALS; PP.ESCRI3H1G TIlE FJRH OF TIlE mRTr.AGE SEcumm
SAID OBLIGATIon; PROVIDING FOR THE PAYHEllT OF TIlE SANE AIID TIlE
UITEREST TI!EREON.

HHEFJ:AS, for the purpose of conscructing and installing a raw water line
of duccil-: iron pipe, acquisition of valves and appurcenances along \l7ith 3.6
acres of la..'1d for easanents I as well as ocher \later m:iliry i1:lprovecn:mcs and
necessary incidentals (th~ Pcoject), tne City of Corte., (the City) by proper
act::ion ha.:i considered a contract and amendments thereto becvleen i'tself. eh.e
Colorado Water C0nservat10n Board and the Dolores l'lacer Conservancy District;
and

1'~lEP.EAS , the Ci ty Council has received th~ funds to build and c~ lete
the Proj ec'C and d.;termined that tne cost of such proj ect shall benefit tne
heaith, safety and welfare of the inhabitants of the City and shall not exceed
a cost of ~1,430, 705.51 prmcipal with interest to be paid at five per cent
(57.) over a tenn of forty (40) years in equai principal payments not including
coses for collection, adrninistrat~on and other incidentals; and

\.JHEREAS, by reaSon of the fact. that the Dolores Hater Conservancy
Distric'C and the Colo~ado Water Conservation Board requires w~at the City of
Conez pledge the full faith and credit of said City to subject obligation;
and

~~~. by reason that it is necessary to obtain money to pay the cOStS
of me construction of the proj eet, whiCl.'1 costs have and will hereafter beccme
due and payable, this Ordinance is hereby declared to became necessary to the
preservation of the public peace, h~lth, and propertY and shall take effect
upon publication followh1g passage pursuan'C to Article III, Sec~ion 10 of the
Cortez City Charte~; and

HHEREAS, the require.1ler1ts of Article ZI, See cion 3 of "the Colorado
Constituion are not applicable to c...'1i.s project and thac the pledge of credit
by the City of Cortez applies only to the obligation of the City under the
contract amencirnant fuid is not in aid of any qtner person or in paym:nt of any
debt, contract, or liability of any other person; and

WHEREAS, Article XI, Section 6(3), and the Charter of the City of Cortez,
provides mat debts contracted by a h~ rule cit:y for the purposes of
supplying wate.r shall be excepted fran the operation of Section 6 insofar as
no political subdivision of tne State shall contract any general obligation
debt by loan it1 a'1Y form, whether individually or by contract:, \n.thout an
electionj and

\..l{ER&\S, it is nOW necessary to provide for the approval of the payback
contract and this Ord~~ce in 'Chis fOnTI, subject to dhe commensurate payment
SChedule incorporated therein;

1m, TIIEREFORE, 3E IT ORDAIrlED BY TIlE CITY mm1GIL OF 11 lE CITY OF CORTEZ,
CDLOFAOO :

SECTION 1. By vircue and pursuant. to Article XI, SectiOns 2 and 5,
and Article \~!I of the Cortez City Charter, the Colorado Revised Stacutes and
the Colorado Constitution, and all other laws thereunto enabling, the City of
Cortez shali agree to pay and pledge its full faith and credit to repay all
the costs incurred in co~~truct~~ and Listalling:

40907/0RDS2

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