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<br />AGENCY NAME: Water Conservation Board
<br />
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER:
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<br />$7,000,000
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<br />LOAN CONTRACT .
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<br />THIS CONTRACT, made this /c/ day of ~4// 2000, by and
<br />between the State of Colorado for the use and benefit of e Department of Natural Resources,
<br />Colorado Water Conservation Board, hereinafter referred to as the CWCB and/or STATE, and the Ute
<br />Water Conservancy District, hereinafter referred to as the DISTRICT, and the Ute Water Activity
<br />Enterprise, hereinafter referred to as the BORROWER and/or CONTRACTOR, P.O. Box 460, Grand
<br />Junction, Colorado 81502-0460.
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<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 Fund
<br />Number 100, Organization YYYV, Appropriation S99, GBL UWCD, Program WTRC, Reporting
<br />Category 0026, Object Code 5180, Contract Encumbrance Number C150026.
<br />
<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 ~~ 37-60-119 and 37-60-120, C.R.S. (1999), the STATE is
<br />authorized to loan money for the construction of water projects for the benefit of the people of the
<br />STATE, provided that the borrower assures repayment of that money.
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<br />4. The DISTRICT is a duly constituted water conservancy district created and operated pursuant to
<br />Article 45 of Title 37, C.R.S., and located in Mesa County, Colorado.
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<br />5. The Ute Water Activity Enterprise was established pursuant to ~ 37-45.1-103, C.R.S. by
<br />Resolution No. UW-94-04 dated September 14,1994 by the Board of Directors of the DISTRICT,
<br />which resolution is incorporated herein by reference. The DISTRICT created the Enterprise for the
<br />purpose of pursuing, continuing and conducting all of the water activities of the DISTRICT,
<br />including without limitation the construction, operation, maintenance, repair and replacement of
<br />the DISTRICT'S property, works, projects and facilities.
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<br />6. The DISTRICT and the BORROWER entered into a contract with the STATE dated March 31, 1995;
<br />Contract Encumbrance No. C153670B, which the parties amended on July 10,1996 and October
<br />23, 1997 ("1995 Contract") under which the STATE agreed to loan the BORROWER up to
<br />$7,537,500 to finance the design and construction of the DISTRICT'S and BORROWER'S Plateau
<br />Creek Pipeline Project (hereinafter referred to as the PROJECT). The total cost of the PROJECT is
<br />estimated to be $55,360,000.
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<br />7. The DISTRICT and the BORROWER applied to the STATE for an additional loan of $9,600,000 to
<br />finance PROJECT costs. The STATE has reviewed a feasibility study report on the PROJECT
<br />compiled by Stefan, Robertson and Kirsten in 1991, a February 1998 environmental impact
<br />statement (EIS) prepared for the PROJECT, and an update of the 1991 feasibility study report
<br />
<br />Ute Water Activity Enterprise and
<br />Ute Water Conservancy District
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