C153441 Contract

• Contract/PO #: C153441
• Contractor Name: Paradox Valley Water Conservation District
• Contract Type: Loan
• Water District: 61
• County: Montrose
• Bill Number: HB 83-1102
• Loan Projects - Doc Type: Contract Documents

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Form 6-A(,-02A

$150,000

PROJECT
CONTRACT

THIS CONTRACT, made this 1 t;t-h day of ,ll.l1gll~t- 1985, by and between the
State of Colorado for the use and benefit of the Department of" Natural Resources
(Colorado Water Conservation Board) .
hereinafter refel'Ted to as the Stale, and '2 the Paradox Valley Water Conservancy,
District. Bedrock. CO 81411.
hereinafter referred to as the contractor or the Borrower.

WHEREAS, authority exists in the Law and Funds have been budgeted. appropriated and olhe4"ln made
available and a sufficient unencumbered balance thereof remains av;ajm ~!ayment in Fund Number 08 .
G/L Account Number 53 59X, Contract Encumbrance Number ( : and
ABL Account Number 13592, Org. Unit 77-77-777,
WHEREAS, required approval, clearance and coordination has been accomplished from and with appropriate
agencies; 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 1:'rojects for the benefit of the people of
the State; and

WHEREAS, the Borrower is a duly constituted water
conservancy district in the State of Colorado and wishes to
repair, or cause to be repaired, the Buckeye Dam, hereinafter
called the project, for the benefit of the members of the Water
Conservancy District in Montrose County, Colorado, at an
estimated cost of Five Hundred Thousand Dollars ($500,000); and

WHEREAS, a feasibility investigation of said project was
conducted and it was found that such a project is technically
and financially feasible; and

WHEREAS, the State has now agreed 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 House Bill No. 1102, Fifty-Fourth
General Assembly of the State of Colorado, duly enacted into
law, the Colorado Water Conservation Board has been authorized
to loan a sum nut to exceed One Hundred Fifty Thousand Dollars
($150,000) for construction of the project,

NOW THEREPORE, in consideration of the mutual and
dependent covenants herein contained, it is agreed by the
parties hereto as follows:

A. The Borrower agrees that it shall:

1. Employ an engineering finn to prepare project plans
and specifications for the project. Both the engineering firm
and the project plans and specifications must be approved by
the State before initiation of construction on the project,
including any real estate and water rights acquisitions, can
commence.

2. Contract for the construction of said project to a
responsible and capable firm or firms (hereinafter referred to
as Construction Firm or Firms), which Construction Firms shall,
when required by the State, be selected through competitive
public bidding, said project to be completed within two (2)
years of the date of this contract in accordance with the
project plans and specifications and any necessary modification
thereof approved by the State. The State must approve, in
writing, all contracts before they can become effective. The
above-specified time may be extended by the State if such time
is insufficient because of acts of God or other acts or
circumstances beyond the control of the Borrower.

395-53.(11..(;010

Page I of-1-pages
.(See instructions on reverse of last pale.)

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paradox