C153397 Contract

• Contract/PO #: C153397
• Contractor Name: Manitou Springs, City of
• Contract Type: Loan
• Water District: 10
• County: El Paso
• Bill Number: SB 80-67
• Loan Projects - Doc Type: Contract Documents

and any facilities thereof at a total
purchase price of Two Million One Hundred
Ninety Thousand Five Hundred Forty-Seven
Dollars and Twenty Cents ($2,190,547.20)
payable in forty (40) annual installments of
Fifty-Four Thousand Seven Hundred Sixty-Three
Dollars and Sixty-Eight Cents ($54,763.68)
each, which first installment shall be due
and payable on May 1, 1985, and yearly
thereafter until the entire principal sum
shall have been paid. Said installment
payments shall be made payable to the
Colorado Water Conservation Board, payable at
the offices of said Board in Denver,
Colorado.

C. 'l'he State agrees that it shall:

1. Make available to the Contractor for the
purpose of this contract not to exceed the
sum of One Million Eighty-Four Thousand
Dollars (~1,084,OOO). Said One Million
Eighty-Four Thousand Dollars ($1,084,000)
shall be made available to the Contractor
in accordance wi th the following terms and
conditions:

a. Beginning with the monthly period
commencing October 1, 1982, and for
every month thereafter until said
project has been completed, the
Contractor shall prepare with the
assistance of the consulting engineer
referred to in paragraph A 1 above an
estimate of the funds required from
the State for project construction
during that month and shall forward
said estimate to the State not less
than fifteen (15) days prior to the
beginning of such month.

b. Upon receipt and approval by the
state of such monthly estimate, the
State will, within forty (40) days
irom the receipt of such estimate, pay
over to the Contractor the amount of
the monthly estimate or such portion
thereof as has been approved by the
State.

c. No payments will be made under this
contract until the project plans and
specifications referred to in
paragraph A1 above are approved by
the State.

I. Upon completion of the payment of the full purchase
price to the State in the sum of Two Million One
Hundred Ninety Thousand Five Hundred Forty-Seven
Dollars and Twenty Cents ($2,190,547.20), as set
forth in paragraph A12 of this contract, the State
agrees to convey to the Contractor all of the
State1s right, title, and interest in and to the
project by deed or other proper conveyance.

3. The State agrees to consider the payment made on
October 1, 1984, in the amount of Fifty Thousand Five Hundred
Twenty Dollars ($50,520) as a partial payment of the Fifty-Four
Thousand Seven Hundred Sixty-Three Dollars and Sixty-Eight Cents
($54,763.68) owed to the State and an additional payment of

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