|
<br />j
<br />i
<br />;
<br />
<br />AGENCY NAME: Water Conservation Board
<br />
<br />AGENCY NUMBER: PDA
<br />
<br />ROUTING NUMBER:
<br />
<br />
<br />Contract #C153700
<br />Amendment # 1
<br />
<br />$ 320,000
<br />630,000
<br />$ 950,000
<br />
<br />CON T R ACT A MEN D MEN T #1
<br />
<br />THIS AMENDMENT, made this d ~ day of 1995, by and between the State of Colorado for
<br />the use and benefit of the Department of Natural Resource ,Colorado Water Conservation Board (CWCB), hereinafter referred
<br />to as the STATE, and TOWN OF NORWOOD, hereinafter referred to as TOWN, and the TOWN OF NORWOOD WATER
<br />COMMISSION. 1130 Lucerne Street, P. O. Box 528. Norwood. Colorado 81423, hereinafter referred to as BORROWER and lor
<br />CONTRACTOR.
<br />
<br />
<br />FACTUAL RECITALS
<br />
<br />1. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and a
<br />sufficient unencumbered balance thereof remains availabl~ for payment in Fund Number 424, Appropriation Code 436,
<br />Contract Encumbrance Number C153700; and
<br />
<br />2. Required approval, clearance, and coordination has been accomplished from and with appropriate agencies; and
<br />
<br />3, The STATE and the CONTRACTOR entered into a contract dated September 11, 1995. Contract Routing Number
<br />960136, Contract Encumbrance Number C15370Q, hereinc3fter referred to as ORIGINAL CONTRACT, incorporated herein by
<br />reference, wherein the STATE agreed to loan money in the amount of $320,000, and the CONTRACTOR agreed to repay the
<br />loan in accordance with the terms of the ORIGINAL CONTRACT; and
<br />
<br />4, The Town of Norwood and the Norwood Water commission requested a supplemental authorization of $630,000
<br />for the construction of a new raw water reservoir for munic:ipal water supply; and
<br />
<br />5, At the board meeting held on January 25, 199~, the CWCB approved supplemental funding in the amount of
<br />$630,000at the rate of 4% for a repayment period of 40 years; and
<br />
<br />6, Pursuant to Chapter 119, Section 9, 1995 ColoradO Session Laws IHB 95-1155), the amount of loan for the Town
<br />of Norwood was increased from the original amount of $320,000to $950,000; and
<br />
<br />7. The amount of $320,000shall be referred to herein as ORIGINAL LOAN AMOUNT. the amount of $630,000shall be
<br />referred to herein as the SUPPLEMENTAL LOAN AMOUNT, and the amount of $950,OOOshall be referred to herein as the TOTAL
<br />LOAN AMOUNT; and
<br />
<br />8. Recital 9 of the ORIGINAL CONTRACT limited the loan to 75% of the total PROJECT cost; when it was the intent of the
<br />Board to cover up to 100% of the cost of the PROJECT; and
<br />
<br />9. The amount of collateral described in the ORIGINAL CONTRACT was established after the TOTAL LOAN AMOUNT was
<br />authorized and was determined as adequate for the TOTAL ~OAN AMOUNT of $950,000; and
<br />
<br />NOW THEREFORE, it is hereby agreed that
<br />
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be made
<br />pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements herein set forth.
<br />
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT, and all terms,
<br />conditions, and provisions thereof, unless specifically modified herein, are to apply to this Amendment as though they were
<br />
<br />TOWN OF NORWOOD & NORWOOD WATER COMMISSION CONTRACT AMENDMENT
<br />
<br />Pag8 , of 3
<br />
|