PROJC01288

• Contract/PO #: C153714
• Contractor Name: Hay-Bretherton Ditch Company
• Contract Type: Loan
• Water District: 43
• County: Rio Blanco
• Bill Number: HB 95-1155
• Loan Projects - Doc Type: Contract Documents

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AGENCY NAME: Water Conservation Board

AGENCY NUMBER: PDA

ROUTING NUMBER

$ 20,000

LOAN CONTRACT & PROMISSORY NOTE

THIS CONTRACT, made this /q day of /'Xn.Afln 1996, by and
between the state of Colorado for the use and benefit ~epartment of Natural
Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to as the
STATE, and the HAY-BRETHERTON DITCH COMPANY, hereinafter r
and/or CONTRACTOR. RIO BlANCO COUNTY. CO

FACTUAL RECITALS

MI.R - 4 1998

1. Authority exists in the. law, and funds have.been';"udgeted, ap rop] ad$
available and a sufficient unencumbered balance thereof i,ema;'n;' available fo paymentPllB 011 J fflber 424',
Organization yyyy, Appropriation Code 528, Program \VJrC,: Object Code ontract Encumbrance
Number C15371~; and

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2. Required approval, clearance, and coordination ~ave teen accomplished from and with appropriate
agencies; and : ( ~

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3. Pursuant to the provisions of Sections :37-60-1; 9 al'id 37-60-120, 15 C.R.S, (1990), the STATE is
authorized to loan money for the construction of water Jir6ieC'tG for the benefit of the people of the STATE
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provided that the BORROWER assures repayment of that moll"'l; .ahd
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4. The BORROWER is an unincorporated ditch company 10c1fted in Rio Blanco County, State of Colorado;
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5. The BORROWER applied to the STATE for a loan in the amount of Twenty Thousand Dollars ($20,000)
to be used to refinance part of the cost of rehabilitating approximately 1,600 feet of the Lower Hay-Bretherton
Ditch (PROJECT) in Rio Blanco County, Colorado; and

6. The PROJECT was designed by the Agricultural Soil Conservation Service (ASCS) and the work was
inspected by the ASCS and the CWCB staff; and

7. The total cost of $43,000 for the completed PROJECT was funded by two grants from the ASCS
Agricultural Conservation Program for a total of $17,000, $6,000 paid by certain members of the BORROWER,
and $20,000 paid by Billy S. Howard and Brenda C;. Howard, members of the BORROWER; and

8. The CWCB approved at their November 3, 1994, meeting, a loan to the BORROWER in an amount not
to exceed Twenty Thousand Dollars ($20,000), at an interest rate of four percent (4%) per annum, and for a
duration of twenty (20) years; and

9. Pursuant to 1995 Colo. Sess. Laws, Chapter 117, Section 1 i the Colorado General Assembly
authorized CWCB to loan to the BORROWER an amount not to exceed Twenty Thousand Dollars ($20,000) for
a term of twenty (20) years to refinance the PROJECT costs; and

HAY-BRETHERTON DITCH COMPANY

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