C150009 Contract

• Contract/PO #: C150009
• Contractor Name: Boulder and Left Hand Irrigation Company
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: SPL
• Loan Projects - Doc Type: Contract Documents

�
AGENCY NAME: Water Conservatlon 0oartl
AGENCY NUMBER: PDA
ROUTING NUMBER:
$100,000
LOAN CONTRACT
THIS CONTRACT, made this R� day of �"�,d�i , 2000, by and
between the State of Colorado for the use and benefit of the Dep ment of Natural Resources, Colorado
Water Conservation Board, hereinafter referred to as the CWCB and/or STArE, and the Boulder & Left
Hand Irrigation Company, hereinafter referred to as the BoRROwER and/or CoNTw�.CroR.
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and othenvise made
available and a sufficient unencumbered balance thereof remains available for payment in Fund
Number 424, Organization WW, Appropriation SPL, GBL 6009, Program WTRC, Object Code
5881, Reporting Category: 0009, Contract Encumbrance Number C150009.
2. Required approval, clearance, and coordination have been accomplished from and with appropriate
agencies.
3. Pursuant to the provisions of §§ 37-60-119 and 37-60-120, C.R.S. (1999) the STnTE is authorized to
loan money for the construction of water projects for the benefit of the peopfe of the STa7E, provided
that the borrower assures repayment of that money.
4. Section 37-60-122.7, C.R.S. (�999) authorizes the STArE to make loans of up to 5100,000
from the Small Project Loan Account of the Construction Fund without prior approval from the
General Assembly if the S7ATE determines that delay would result in undue hardship on the
borrower.
5. The BoRROwER is a duly constituted Colorado ditch and reservoir company formed pursuant to §§ 7-
42-101 et sea• and 7-40-101 et sea•, C.R.S., located in Boulder County, State of Colorado.
6. The BoRROweR has applied to the SrarE for a loan to be used for rehabilitation of the outlet works
and construction of a spillway for BoRROwER's Twin Lakes Dam, hereinafter referred to as PRO�eCr,
at a cost of $140,500. ,
7. The STnTE has reviewed a feasibility report compiled by Mike Baliantine, P.E. of Rocky Mountain
Consultants, which is incorporated herein by reference, and, based upon this feasibility report, the
STaTE determined the PRO,IECT to be technically and financially feasible.
8. This loan qualifies as a Small Project Loan under § 37-60-122.7, C.R.S. (1999), because the
amount of the loan does not exceed 5100,000 and the BoRROwER will suffer undue hardship if
the PRO.IECT is not completed because, without completion of the PROJECT, failure of the
outlet would prevent use of the water in the reservoir for irrigation in the coming season.
9. At its November 22-23, 1999 meeting, the CWCB.found that delay in completing the PRO.IECT would
Boulder & Left Hand Irrigation Company . Page 1 of 1� Loan Contract