C153666 Contract

• Contract/PO #: C153666
• Contractor Name: Summit Reservoir and Irrigation Company
• Contract Type: Loan
• Water District: 32
• County: Montezuma
• Bill Number: EIA
• Loan Projects - Doc Type: Contract Documents

'_..,.~

OEPARTMENT ~ ~ENCY NAME
Water Conservation Board

DEPARTMENT OR AGENCY NUMBER
POA

ROUT! NG NUMBER

$ 33,000

LOAN CONTRACT

TIllS CONTRACT, made thiS),3yc! day of ~ biU Ct,;y 1994, by and between the State of Colorado for the
use and benefit of the Department of NATURAL RESOURCES

(COLORADO WATER CONSERVATION BOARD) .
hereinafter referred to as the State, and THE SUMMIT RESERVOIR AND IRRIGATION COMPANY.

P.O. BOX 127. DOLORES. CO 81321

hereinafter referred to as the contractor/Contractor or Borrower.

1. WHEREAS, authority exists in the Law and Funds have been budgeted, appropriated and otheI'\1l'ise made available and a
sufficient unencumbered balance thereof remains available for payment in Fund Number m Organization YYYY . Appropriation ~
Program wrRC. Object Code 5180. Contract Encumbrance Number; C I 5.3 (, t " ; and

2. WHEREAS, required approval, clearance and coordination have been accomplished from and with appropriate agencies; and

3. WHEREAS, pursuant to the provisions of Sections 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 Borrower
assures repayment of that money; and

4. WHEREAS, in accordance with Section 37-60-122.6 C.R.S. , the State is
authorized to loan money from the Emergency Account for projects which it determines
are necessary to avoid unreasonable risk of injury or damage to human health or well
being or to property or crops when the Colorado Water Conservation Board determines
that the emergency condition is not the result of negligence in the operation or
maintenance of the infrastructure; and

5. WHEREAS, in May of 1993, a slide developed on the dam of the Summit
Reservoir which seriously threatened the safety of the dam, and the Lost Canyon Ditch
became blocked by a landslide which also threatened to destroy a portion of the ditch;
and

6. WHEREAS, the Colorado Water Conservation Board determined at their July
22, 1993 meeting that the conditions at the Summit Reservoir and at the Lost Canyon
Ditch (both of which are infrastructure owed by the Summit Reservoir Company) did
constitute an emergency condition qucli;lvmg for a loan from the Emergency Account;
and

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