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<br />BORROWER: Jackson Lake Reservoir and Irrigation
<br />Company
<br />BORROWER2: Division of Parks and Outdoor
<br />Recreation and the Board of Parks and Outdoor
<br />Recreation
<br />Contract No. C150063
<br />Loan Amount: BORROWER: $1,000,000
<br />BORROWER2:$1,7000,000
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<br />Agency Name: Water Conservation Board
<br />Agency Number PDA
<br />Routing Number C) ). ;tJ /JA DOO t 0
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<br />LOAN
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<br />CONTRACT
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<br />THIS CONTRACT, made this 1 st day of August 2001, by and between the State of Colorado for
<br />the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board
<br />("CWCB" and/or the "STATE"), Jackson Lake Reservoir and Irrigation Company, a Colorado nonprofit
<br />corporation, P.O. Box 38, Fort Morgan, CO, 80701, ("BORROWER" and/or "CONTRACTOR"), and the
<br />State of Colorado acting by and through the Department of Natural Resources for the use and benefit
<br />of the Division of Parks and Outdoor Recreation and the Board of Parks and Outdoor Recreation, a
<br />Colorado state agency, 1313 Sherman Street, 6th Floor, Denver, CO 80203 ("PARKS and/or
<br />BORROWER2"),
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<br />FACTUAL RECITALS
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<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 as
<br />follows: Fund Number 424, Organization yyyy, Program WTRC, Object Code 5570, Reporting
<br />Category 0063, Contract Encumbrance No. e150063; Appropriation Code L01, GBL PJAC for
<br />$1,700,000; and Appropriation Code 506, GBL JJAC for $1,000,000.
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<br />2. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
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<br />3. eWCB's authority for making this loan: Construction Fund: Pursuant to the provisions of SS
<br />37-60-119 and 37-60-120, C.R.S. the CWCB is authorized to loan money for the construction of
<br />water projects for the benefit of the people of the State, provided that the borrower assures
<br />repayment of that money.
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<br />4, The Project Summary, attached as Appendix 1 and incorporated herein, sets forth descriptions
<br />of BORROWER and PARKS (Section 1) and the PROJECT Description (Section 2).
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<br />5. Board approval and legislative authorization, if required
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<br />a. At its November 9,1993, meeting, the CWCS approved a loan to the BORROWER in an amount
<br />up to $1,000,000 ("LOAN AMOUNT") not to exceed 75% of the total cost of the PROJECT, at an
<br />interest rate of 4% per annum for a repayment term of thirty years. At its January 2001, meeting,
<br />the CWCB approved a loan to PARKS in an amount up to $1,700,000 ("PARKS LOAN AMOUNT") at
<br />an interest rate of 0% per annum for a repayment term of thirty years. Said loan will enable
<br />PARKS to provide financial assistance to the BORROWER for the PROJECT as part of compensation
<br />paid by PARKS to the BORROWER for a thirty year lease of the recreational rights associated with
<br />the Jackson Lake Reservoir. Additional Board Requirements are set forth in Section 3 of the
<br />Project Summary.
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<br />b. Pursuant to S.B. 94-29, Section 1(1)(7), the Colorado General Assembly authorized eWCB to
<br />loan to the BORROWER an amount up to $1,000,000 for the PROJECT. Pursuant to S.B. 01-
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