C153564 Contract

• Contract/PO #: C153564
• Contractor Name: Bauer Lakes Water Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

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APPENDIX A

34-04-00
CONTRACT ROl:TI;"a; !';l".HlfR
",CO

PROJECT
CONTRACT

$98,000

THIS CONTRACT, made- Ihis 28th day of June 198 ~,bY and bel ween the
Stale of Colorado ror the U!>e and benefll of the Depanmenl of" Natural Resources
(Colorado Water Conservation Board),
hereinaher ",ferred IV as Ihe Slale and '2 The Bauer Lakes \vater Comoanv I
11747 Co. 'Rd. 41, Mancos, CO 81328,
heremafler rererred 10 as Ihe conlraclor /Contractor,

WHEREAS. alllhoril)' el\:iSb in the Law and Fund~ nave been budgeted, approprialed and olherwise made
,naillilbk and a suCficienl unencumbt'red balance Ihereof remains avtil:p~)or{aymeOl in Fund ,,"umber 4 nnA ,
G/L Account Number 5409X , (olllracl Encumbrance Numbe/l'-'...ljjJ0 ; and
ABL Account No. 14090, Org. Unit 77-77-777,
WHEREAS, re4uired approval. c1ear.mee and conrdinalion ha~ been accomplished {rom and wilh appropriale
agenciu; and

WHEREAS, pursuant to the provisions of 37-60-119 and
37-60-120. Colorado Revised Statutes. the State is authorized
to loan money for the construction of water projects for the
benefit of the people of the State provided that the Contractor
assures repayment of that money; and

~ WHEREAS. the Contractor is a water company in the State of
Colorado and it wishes to improve the facilities of the Bauer
No.1 Reservoir Dam. hereinafter sometimes called the project.
for the benefit of the shareholders of the water company in
Montezuma County. Colorado. at an estimated cost of Two Hundred
Thousand Dollars ($200.000): and

'WHEREAS. on September 24. 1984. the parties entered into a
feasibility report contract. attached hereto as Exhibit B. A
feasibility investigation of said project was conducted and the
State has determined that such a project is technically and
financially feasible: and it. -P k (' tV)
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WHEREAS. on June 28 . 1989. the State and the
Contractor entered into a termination contract. attached hereto
as Exhibit A. which terminated the Exhibit B feasibility report
contract previously entered into between the parties; and

WHEREAS. the termination contract provides that the
Contractor will repay to the State the principal amount of Two
Thousand Dollars ($2.000) under the terms and conditions of
that Exhibit A termination contract in consideration of the
State's partial financing of the feasibility report for the
project pursuant to the Exhibit B feasibility report contract;
and

WHEREAS. the State now desires by this project contract to
loan money for the construction of said project upon mutually
agreeable terms and conditions. subject to the availability of
funding for that purpose; and

WHEREAS. the State and the Contractor agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project construction
loan; and

WHEREAS, pursuant to the Contractor's By-Laws. the
Contractor has authority to contract to borrow money provided
that a Resolution be duly passed by its Board of Directors and
to levy assessments assuring repayment of the State according
to the terms of the contract; and

APPENDIX A

7917E

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