PROJ00350

• Contract/PO #: C153574
• Contractor Name: Longmont, City of
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: SB 88-30
• Loan Projects - Doc Type: Contract Documents

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McCall Lake Dam

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CONTRACT ROlITINl; NUM. ....

PROJECT
CONTRACT
a~Promissory Note
THIS CONTRACT. mad< this 16~y of ~~
Stale of Colorado (or the use and btndil of the Dtparl nr of 'I Natural
(Colorado Water Conservation Board) .
hereinaher ",ferred to 35 the Slall:'. and '2 City of Lonqmont.
1100 S. Sherman St., Lonqmont, CO 80501,
hereinafter referred to as the contractor /Contractor Or Borrower.

$212,525

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Resources

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WHEREAS. authority exists in the law and Funds have been budgeted, appropriated and otherwise made
available and a surncient unencumbered balance Ihertof remains {1,ailable for payment in Fund Number 400 A
G/l Account Number 5420X, Contract Encumbrance Numbe Y.&J....'Jc;14-: and
ABL Account No. 14200, Org. Unit 77-77-777,
WHEREAS. required approval. c1e..rance and coordination ha5 been accomplished from and with 3ppwpriale
agencies: and

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WHEREAS. pursuant to the provisions of 37-60-119 and
37-60-120. Colorado Revised Statutes. the State is authorized
to loan money foe the construction of water projects for the
benefit of the people of the State provided that the,Contractor
,assures repayment of that money; and

WHEREAS. the Contractor is a city in the State of Colorado
and it wishes to make repairs to McCall Lake Dam. hereinafter
sometimes called the project. for the benefit of the citizens
of the City of Longmont. in Larimer and Boulder Counties.
Colorado. at an estimated cost of Four Hundred Thirty-Five
Thousand Dollars ($435.000): and

WHEREAS, on October 22, 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 May 23. 1989, the State and the Contractor
entered into a termination contract. attached hereto as Exhibit
A. which terminated the Exhibit B 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 Four
Thousand Nine Hundred Seventy-Five Dollars ($4.975) under the
terms and conditions of that Exhibit A termination contract in
consideration of the Statels partial financing of the
feasibility report for the project pursuant to the Exhibit B
feasibility report contract; and

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

WHEREAS, 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 Contractor's city charter. the
Contractor has authority to contract to borrow money provided
that an ordinance be duly passed by the city council
establiShing utility rates necessary to assure repayment of the
State according to the terms of the contract; and

WHEREAS. pursuant to section 1 of chapter 32. Session Laws
of Colorado 1987. as amended by Section 4 of Senate Bill 30,
1988. the State has been authorized to loan Two Hundred
Seventeen Thousand Five Hundred Dollars ($~17,500) for

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APPENDIX A