PROJC01276

• Contract/PO #: C153517
• Contractor Name: Lone Cabin Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

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Fonn 6-AC-42A (R 5/85)
W/FRPB

-3
DEPAR I !>lENT OR AG NCY NUMBER
34-04-00

PROJECT
CONTRACT

$77,675

'.S!lv 11
THIS CONTRACT. made' ,his /.. day of -" (
Stale of Colorado for the use and benefit of the Oepar2nt . I
(Colorado Water Conservation Board),
hereinaftC'f I'f'ferred 10 as the Stllte, and '2 the Lone Cabln Ditch and ReserVOlr
Company, 4236 N. Road, Paoula, CO H142B, I
hereinafter referred to as the coJllractor /Contractor and the North Fork Water Conservancy
District, a duly consLituted water con~ervancy district, sponsoring agency.
WHEREAS. authority exi~ls in the' Law and Funds have been budgeted. appropriated and otherwise made
3r.1ilablC' and a sufficient unencumbered balance (hereof remains available for ~ymenl in Fund Number 4008 ,
GlL Account Number 5369X. Conirael Encumbrance Numbert'LQ :{. and
ABL Account No. 13690, Org. Unit 77-77- 77,
WHEREAS. relJuircd appr/)val. clearance llnd coordinalion has been accomplished from and with appropriale
_llencie$; and

198 L . by and bel ween Ihe
Natural Resources

WHEREAS. pursuant to the provisions of 37-60-119. 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: and

WHEREAS. the Contractor is a duly. constituted Colorado
corporation. sponsored by a water conservancy district in the
State of Colorado. and wishes to repair its Lone Cabin Dam.
hereinafter called the project. for the benefit of the
stockholders of the Lone Cabin Ditch and Reservoir Company in
Delta County. Colorado. at an estimated cost of One Hundred
Thousand Dollars ($100.000): and

WHEREAS. a feasibility investigation of Gaid project was
conducted and it was found that such a project is technically
and financially feasible; and

WHEREAS. on ~ 1.3 . ~, the State and the
North"Fork Water Co erv ncy District entered into an agreement
(attached as Exhibit A and incorporated by reference herein and
hereinafter referred to as the termination contract) which
terminated a feasibility report contract (attached as Exhibit B
and incorporated bY reference herein) previOUSly entered into
between the parties.

WHEREAS. the termination contract provides for the
repayment to the the State the principal amount of Three
Thousand Ten Dollars and Ninety Cents ($3.010:90) under the
terms and conditions of that contract in consideration of the
State's partial financing of the feasibility report for the
project; and

WHEREAS. the state has now agreed 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 the state and the Contractor agree that the
repayment of the feasibility report funding shall be
consolidated with the repayment of the project loan; and

WHEREAS. pursuant to Senate Bill No. 15. Fifty-Sixth
General Assembly of the State of Colorado. duly enacted into
law. the State has been authorized to loan a sum not to exceed
.Eighty T~ousand Dollars ($80.000) for construction of the
project;

NOW THEREFORE. in consideration of the mutual and
dependent covenantS herein contained. it is agreed by the
parties hereto as follows:

A. The State and the North Fork Water Consecvancy District
entered into an agreement (attached as Exhibit A and

39HJ.01-1014

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