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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER: PDA
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<br />ROUTING NUMBER:
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<br />$ 335,000
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<br />LOAN CONTRACT
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<br />THIS CONTRACT, made this UJb.day of ~ 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 The Model Land &
<br />Irrigation Company, a Colorado corporation, P.O. Box 57, Model, CO 81059, a Colorado corporation,
<br />hereinafter referred to as the BORROWER andlor 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 EIA, GBL M012, Program WTRC, Object Code
<br />~881. Reporting Category 0012, Contract Encu~ce Number C~.t2. ----
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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 SS 37-60-119 and 37-60-120, C,RS, (1998) 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, Section 37-60-122,6, C,RS, (1998) authorizes the STATE to loan money from the Emergency
<br />Infrastructure Account for projects that it determines are necessary to avoid unreasonable risk
<br />of injury or damage to human health or well-being or to property or crops when the STATE also
<br />determines that the emergency condition is not the result of negligence in the operation or
<br />maintenance of the infrastructure and that the viability or success of the emergency project is
<br />not dependent upon further appropriations or loans,
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<br />5, The BORROWER is a duly constituted Colorado corporation governed by Articles 101-117 of Title 7,
<br />C,RS" located in Las Animas County, State of Colorado.
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<br />6, The BORROWER has applied to the STATE for a loan to be used for repairing damage caused by
<br />flooding to the Black Hills Reservoir, formerly known as the Model Reservoir, including the
<br />replacement of the outlet conduit and outlet gate tower, repairs to the dam embankment, and the
<br />installation of flumes to measure Reservoir releases, hereinafter referred to as PROJECT, at an
<br />estimated cost of $670,000,
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<br />7, The STATE has reviewed a feasibility report compiled by URS Greiner Woodward-Clyde, which is
<br />incorporated herein by reference, and, based upon this feasibility report, the STATE determined
<br />the PROJECT to be technically and financially feasible,
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<br />8, This loan qualifies as an Emergency Infrastructure Account loan because, without completing the
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<br />The Model Land & Irrigation Company
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<br />Loan Contract
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