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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: 0 1- PJ)A ~ ceo2/)
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<br />LOAN CONTRACT
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<br />THIS CONTRACT, made this 51JJ day of September 2000, by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board, hereinafter referred to as the CWCB and/or STATE, and Riverside Reservoir and
<br />Land Company, a Colorado nonprofit corporation, 215 E. Kiowa, Fort Morgan, CO, 80701, hereinafter
<br />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 YYYV, Appropriation SOO, GBL RRlC) Program WTRC, Object Code
<br />5881, Reporting Category: 0044, Contract Encumbrance Number C150044.
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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 ~~ 37-60-119 and 37-60-120, C.R.S. (1999) 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 company formed pursuant to and governed
<br />by Articles 42 and 121 of Title 7, C.R.S., located in Morgan 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
<br />BORROWER'S diversion structure on the South Platte River, hereinafter referred to as PROJECT, at
<br />a cost of $450,000.
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<br />6. The STATE has reviewed a feasibility report compiled by Jack Odor, P.E., which is incorporated
<br />herein by reference, and was financed in part by a $5,000 grant from CWCB, and, based upon
<br />this feasibility report, the STATE determined the PROJECT to be technically and financially feasible.
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<br />7. At its March 2000 meeting, the CWCB approved a loan to the BORROWER in an amount up to
<br />$405,000, not to exceed 90% of the cost of the PROJECT, at an interest rate of 4% per annum for
<br />a duration of 30 years, from the Severance Tax Perpetual Base Account.
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<br />8. Pursuant to H.B. 00-1419, Section 1(1), the Colorado General Assembly authorized CWCB to
<br />loan to the BORROWER an amount up to $405,000, hereinafter referred to as AUTHORIZED LOAN
<br />AMOUNT, 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 />THEREFORE, in consideration of the mutual and dependent covenants contained herein,
<br />the parties agree as follows:
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<br />Riverside Reservoir and Land Company
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<br />Page 1 of 12
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<br />Loan Contract C150044
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