Laserfiche WebLink
<br />, " <br /> <br />1IfZ-/c;t! - {'';J7:t;CLC:f <br />/)..{~\;v.:tf -1;y {PXi"'.Wf <br />." 1'1 <br />c.J <br /> <br />q,5! /{)7/~~'lNI:-/-''1 <br /> <br />:-i(j}..tU/iGJan".L'.4f:l <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: <br /> <br /> <br />$ 300,000 <br /> <br />LOAN CONTRACT <br /> <br />THIS CONTRACT, made this Ad, t~day of '-/fZ~ 1999, by and <br />between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board (CWCB), hereinafter referred to as the STATE, and the Ler.oux Creek Water <br />Users' Association, 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 bcllance thereof remains available for payment in Fund <br />Number 424, Organization YYYY, Appropriation EIA, GBL L854, Program WTRC, Object Code <br />5120, Reporting Category: 3854, Contract Encumbrance Number C153854. <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with appropriate <br />agencies. <br /> <br />3. Pursuant to the provisions of 9937-60-119 aOd 37-60-120, C.R.S. (1997) the STATE is authorized to <br />loan money for the construction of water projpcts for the benefit of the people of the STATE, provided <br />that the borrower assures repayment of that rfloney. <br /> <br />4. Section 37-60-122.6, C.R.S. (1997) authorizes the STATE to loan money from the Emergency <br />Infrastructure Account for projects that it determines are necessary to avoid unreasonable risk of <br />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 we viability or success of the emergency project is not <br />dependent upon further appropriations or loans. <br /> <br />5. The BORROWER is a duly constituted ColoradP water users' association formed pursuant to 99 7-44- <br />101 et seq. and 7-40-101 et seq., C.R.S., located in Delta County, State of Colorado. <br /> <br />6. The Carl Smith Reservoir operates to regulate releases of from the BORROWER'S system. The Carl <br />Smith Reservoir dam partially failed in May of 1998. The dam is a Class 1 structure, defined as <br />presenting a threat to human life in the event of failure. The State Engineer may require BORROWER <br />to breach the dam down to the foundation to eliminate any remaining hazard. <br /> <br />7. The BORROWER has applied to the STATE for a loan from the Emergency Infrastructure Repair' <br />Account, to be used for the rehabilitation of tl1e Carl Smith Reservoir Dam, hereinafter referred to as <br />PROJECT, at an estimated cost of between $300,000 and $1,000,000. <br /> <br />Leroux Creek Water Users' Association <br /> <br />PaOe 1 of 13 <br /> <br />Loan Contract <br />