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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER PDA
<br />ROlf[ING NUMBER: 17/l/)6 "7
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<br />$734,000
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<br />LOAN CONTRACT
<br />'7 ~ ftf J Ll A.1f:-
<br />THIS CONTRACT, made this t..:.J - day of ~ 1999 by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board (CWCB), hereinafter referred to as the STATE, and the DeWeese-Dye Ditch and
<br />Reservoir Company, hereinafter referred to as the BORROWER and/or CONTRACTOR,
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<br />FACTUAL RECITALS
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<br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br />Number 424, Organization YYYY, Appropriation L98, GBL DDYE, Program WTRC, Object Code
<br />5120, Reporting Category: 3832, Contract Encumbrance Number C153832.
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<br />2. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
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<br />3. Pursuant to the provisions of 9937-60-119 and 37-60-120, C.R.S. (1997) the STATE is authorized
<br />to loan money for the construction of water projects for the benefit of the people of the STATE,
<br />provided that the borrower assures repayment of that money.
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<br />4, The BORROWER is a duly constituted Colorado ditch and reservoir company formed pursuant to
<br />99742-101 et sea. and 740-101 et sea., C.R.S" located in Fremont County, State of Colorado.
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<br />5, The BORROWER has applied to the STATE for a loan to be used for rehabilitation of the dam of the
<br />BORROWER'S DeWeese Reservoir, hereinafter referred to as PROJECT, at a cost of $839,000.
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<br />6, The STATE has reviewed a feasibility report compiled by GEl Consultants of Englewood, which is
<br />incorporated herein by reference, and was financed in part by CWCB (Feasibility Report Contract
<br />No. C153749 dated February 5, 1997), and, based upon this feasibility report, the STATE
<br />determined the PROJECT to be technically and financially feasible.
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<br />7, At its November 24-25, 1997 meeting, the CWCB approved a loan to the BORROWER in an
<br />amount up to $734,000, not to exceed 90% of the cost of the PROJECT, at an interest rate of
<br />4.00% per annum for a term of 30 years.
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<br />8, Pursuant to House Bill 98-1189, Section 1, the Colorado General Assembly authorized CWCB to
<br />loan to the BORROWER an amount of $734,000 for the PROJECT.
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<br />9. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon
<br />mutually agreeable terms and conditions,
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<br />DeWeese-Dye Ditch & Reservoir Company
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<br />Loan Contract
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