C153705 Contract - Laserfiche WebLink

Home Browse Search

.-..~ , . ,i , 8. Pursuant to Section 7, Chapter 265, Colorado Session Laws, 7994 ISenate Bill 94-0291, the Colorado General Assembly authorized CWCB to loan to the BORROWER an amount not to exceed Three Hundred Seventy Three Thousand Dollars 1$373,0001 for a term of forty (401 years for the PROJECT; and 9. Pursuant to the BORROWER'S articles of incorporation, the BORROWER has authority to contract to borrow money and to levy assessments assuring repayment of the loan to the STATE in accordance with the terms of this contract, provided that a resolution approving said actions has been duly adopted by its board of directors; and 10. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon mutually agreeable terms and conditions. NOW THEREFORE, in consideration of the mutual and dependent covenants contained, it is agreed by the parties as follows: A. The BORROWER agrees as follows: 1. Construction Fund Program procedures. The following items are procedures the BORROWER will follow during the construction phase of the PROJECT rehabilitation. a. Preparation of plans and specifications. The BORROWER shall employ an engineering firm, hereinafter referred to as the CONSULTANT, with staff registered in the State of Colorado, to prepare plans and specifications forthe PROJECT. Both the BORROWER/CONSULTANTagreement, and the plans and specifications must be approved by the STATE in writing. Plans and specifications for all jurisdictional storage dams and reservoirs must also be approved by the State Engineer's office. b. Bidding. CWCB staff must be present at bid opening for construction as well as approve bidding for the PROJECT rehabilitation. BORROWER may prepare the notice of award and the notice to proceed with construction to the contractor; however, both notices must be approved by the CWCB staff before they are issued. The BORROWER shall conduct a pre-construction conference and the CWCB staff will have the opportunity to review and approve the construction schedule. c. Performance of work. The BORROWER shall contract for the construction of the work with responsible and capable firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be selected by the BORROWER and found acceptable by the STATE before work under this contract begins. d. As-built drawings. Upon completion of the PROJECT rehabilitation, the BORROWER will provide as-built drawings of the dam and reservoir to the State Engineer's office for approval and filing. 2. Time for PROJECT rehabilitation completion. The BORROWER shall commence with construction of the PROJECT rehabilitation as soon as practicable to effect completion within two (2) years of the date of this . contract. The PROJECT rehabilitation shall be constructed in accordance with the plans and specifications, and with any modification(s) thereof approved by the STATE. The time for completion of the PROJECT rehabilitation may be extended subject to the mutual agreement of the STATE and the BORROWER. The BORROWER must provide, in writing, documented justification for request of extension sixty (60) days prior to the end of the two (2) year period for completion. The BORROWER further recognizes that time is of the essence in the performance of all of its obligations under this contract. 3. Indemnification of the STATE. The BORROWER shall require all CONSTRUCTION FIRMS and their subcontractors to indemnify the STATE and the BORROWER against all liability and loss. and against all claims and actions based upon or arising out of damage or injury, including death. to persons or property, caused by any acts or omissions of those parties or sustained in connection with the performance of any contract related to BEAVER RESERVOIR COMPANY Page 2 of 11 LOAN CONTRACT