PROJ00493

• Contract/PO #: C153637
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 92-87
• Loan Projects - Doc Type: Contract Documents

DEPARTMENTS IGENCY NAME
Water Conservation Board
DEPARTMENT OR AGENCY NUMBER
PDA
ROUTING NUMBER
1,800,000
CONTRACT
THIS coma :cr, made this 9 th day of February 199 by and between the State of Colorad= for the
use and bencfit of the Department of Natural Resources
(Colorado Water Conservation Board)
hereinafter referred to as the State, and The North Poudre Irrigation Company,
P.O. Box 100, Wellinaton. CO 80549.
hereinafter referred to as the contractor/Contractor or Borrower
WHEREAS, authority exists in the Iaw and Funds have been budgeted, appropriated and otherwise made available and a
sufficient unencumbered balance thereof remains available for payment in Fund Number 424. Organization YYYY Appropriation 802.
Program WTRC Object Code 5120 Contract Encumbrance Number, r J5 ?S ; and
WHEREAS, required approval, clearance and coordination have been accomplished from and with appropriate agencies; and
WHEREAS, pursuant to the provisions of Sections 37-60-119 and
37-60-120, 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 provided that the Contractor assures
repayment of that money; and
WHEREAS, the Contractor is a duly constituted mutual ditch
company in the State of Colorado and it wishes to improve, or
_Iusa to be improved, its reservoirs numbers 5 and 5 dams,
hereinafter sometimes called the project, for the benefit of the
stockholders of the North Poudre Irrigation Company in Larimer
County, Colorado, at an estimated cost of One Million Eight
Hundred Thousand Dollars ($1,800,000); and
WHEREAS, the State now desires by this project contract to
loan money for the construction of said project upon mutually
agreeable terms and conditions, subject to the availability of
funding for that purpose; and
WHEREAS, pursuant to the Contractor's By -Laws, the Contractor
has authority to contract to borrow money provided that a
Resolution be duly passed by the its Board of Directors and to
levy assessments assuring repayment of the State according to the
terms of the contract; and
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