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PROJC00346
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PROJC00346
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Last modified
5/28/2013 8:48:57 AM
Creation date
10/6/2006 12:06:11 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153785
Contractor Name
Chipperfield Lane Ditch, Inc.
Contract Type
Loan
Water District
39
County
Garfield
Bill Number
SPL
Loan Projects - Doc Type
Contract Documents
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<br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: 0 i O-;Jq <br /> <br />$60,000 <br /> <br />LOAN CONTRACT <br /> <br />THIS CONTRACT, made this 10 day of C)cr 1997, <br />by and between the State of Colorado for the use and benefit of the Department of Natural <br />Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to as the STATE, <br />and Chipperfield Lane Ditch, Inc., a Colorado nonprofit corporation, 530 Co. Rd. 326, Silt, CO <br />81652, hereinafter referred to as the BORROWER and/or CONTRACTOR. <br /> <br />FACTUAL RECITALS <br /> <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 <br />Fund Number 424, Organization YYYV, Appropriation SPL, GBL C785, Program WTRC, <br />Object Code 5120, Reporting Category: 3785, Contract Encumbrance Number C153785. <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br /> <br />3. Pursuant to the provisions of SS 37-60-119 and 37-60-120,15 C.R.S. (1990 and Supp. 1996) <br />the STATE is authorized to loan money for the construction of water projects for the benefit of <br />the people of the STATE, provided that the borrower assures repayment of that money. <br /> <br />4. Section 37-60-122.7, C.R.S. (Supp. 1996) authorizes the STATE to make loans of up to <br />$100,000 from the Small Project Loan Account of the Construction Fund without prior <br />approval from the General Assembly if the STATE determines that delay would result in undue <br />hardship on the borrower. <br /> <br />5. The BORROWER is a duly constituted Colorado nonprofit corporation formed under and <br />govemed by Articles 20 through 29 of Title 7, C.R.S. (1986 and Supp. 1996), located in <br />Garfield County, State of Colorado. <br /> <br />6. The BORROWER has applied to the STATE for a loan to be used for financing the construction <br />of a new headgate structure and raw water delivery pipelines, hereinafter referred to as <br />PROJECT, at a cost of $ 80,000. <br /> <br />7. The STATE has reviewed a feasibility report prepared by the U.S. Natural Resources <br />Conservation Service and the CWCB staff, which is incorporated herein by reference, and, <br />based upon this feasibility report, the STATE determined the PROJECT to be technically and <br />financially feasible. <br /> <br />Chipperfield Lane Ditch, Inc. <br /> <br />Page 1 of 14 <br /> <br />Loan Contract <br />
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