C153509 Contract

• Contract/PO #: C153509
• Contractor Name: Farmers Extension Ditch & Highland Lake Lateral Company
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: SB 80-67
• Loan Projects - Doc Type: Contract Documents

. F,nn to-AC-02A IR ~/8Sl
NFRPB
7th Phase

I)EI'A"

3.4-04-00
CONTRACT IWllTINl; NtlMBER

$350,000

PROJECT
CONTRACT

THIS CONTRACT. ~d, th;<->l' 71j; d.y 0' ~ 198 R . by .od b<lw<<n th,
Slale of Colorado for Ihe 11M' and benefit of Ine [kparlmenl 0 1 NaLupal Resources
(Colorado Water Conservation Board), ,
hereinafter rf'ferred 10 as the State. and '2 the fapmers Extension Di tcn Comoany and the
Highland Lake Lateral DiTCh CompanY, P. O. Box 550, Johnstown, CO 80534,
hereinafter referred 10 as the contractor IContractor.

WHEREAS. lluthority e1!;ists in the Law and Funds have been budgeted. appropriated and olherwise made
available und a sufficienl unencumb(:red balance thereof remains available for JHlyrflenl in Fund Number 4008 .
G/l Accounl Number....5..llJiX. emHract Encumbrance Number~J53St1~t and
ABL Account No, 131B7, Org, Unit 77-77-777,
WHEREAS. re4uired appr~aram:e :md coordination ha~ been accomplished from and wilh appropriate
..gencies: 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. pursuant to Senate Bill No. 67, the Fifty-Second
General Assembly of the State of Colorado. authorized the State
to loan a sum not to exceed One Million Two Hundred Thousand
Dollars ($1,200,000) to the Contractor for the Contractor's use
in performing certain repair work on its irrigation system,
which work is referred to hereinafter as "the project~; and

WHEREAS. the Contractor has performed the project in phases
and has previOUSly completed six phases of the project by six
separate project contracts. for which phases the State has
loaned the Contractor One Million Two Hundred Fifty-Five
Thousand Dollars ($1.255.000); the separate contracts were used
to figure the amount of increase due to inflation; and

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WHEREAS. Senate Bill No. 67 provided that the amount
authorized for loans of this type could be increased by such
amounts as are justified by reason of ordinary fluctuations in
construction costs as indicated by engineering cost indices.
applicable to this type of work; and

WHEREAS. engineering cost indices have increased from 1980
to 1987 by 39.21 percent of the original price. as determined
by .the .Engineering News Record formula. and this increase has
been prorated per year and per contract. as indicated in the
attached Exhibit C. and has resulted to date in the State
making authorized loans for Fifty-Five Thousand Dollars
($55,000) in excess of the original One Million Two Hundred
Thousand Dollars ($1,200.000); and

WHEREAS. the State has determined that the amount available
to be loaned for the total project shOUld be increased by Four
Hundred Nineteen Thousand Five Hundred Dollars ($419,500), to a
total of One Million Six Hundred Nineteen Thousand Five Hundred
Dollars ($1,619,500); and of that amount, One Million Two
Hundred Fifty-Five Thousand Dollars ($1,255,000) has already
been l~aned to the Contractor; and

WHEREAS. the difference between One Million Six Hundred
Nineteen Thousand Five Hundred Dollars ($1,619,500) and One
Million Two Hundred Fifty-Five Thousand Dollars ($1,255,000) is
Three Hundred Sixty-Four Thousand Five Hundred Dollars-
($364,500) and is available to be loaned for completion of the
seventh phase of the project: and

WHEREAS. The State has now agreed to loan the Contractor
Three Hundred Fifty Thousand Dollars ($350,000) for completion
of the seventh phase of the project, the total cost of which
phase will be Seven Hundred Thousand Dollars ($700,000);

395-53{)1-1014

Pa~e I of -8..... page~
-,See m5UlIl'lI"ns on revene (If l~sl p~ge.1

624BE