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<br />\ <br /> <br />.".' <br /> <br />AGENCY NAME: Water Conservation Board <br /> .. <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: 97 PDA 0/ D2B <br /> <br />$62,500 <br /> <br />LOAN CONTRACT & PROMISSORY NOTE <br /> <br />THIS CONTRACT, made this .3 0 day of December 1996, by and between the <br />. State of Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board (CWCB), hereinafter referred to as the STATE, the MANCOS WATER <br />CONSERVANCY DISTRICT, 42888 County Road N, Mancos, CO 81328, hereinafter referred to <br />as the DISTRICT and the MANCOS WATER CONSERVANCY DISTRICT WATER ACTIVITY <br />ENTERPRISE, 42888 County Road N, Mancos, CO 81328, hereinafter referred to as the <br />BORROWER and/or CONTRACTOR. <br /> <br />F ACTUAL RECITALS <br /> <br />A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for payment in <br />Fund Number 424, Organization yyyy, Appropriation EIA, Program WTRC, Object Code 5140, <br />Contract Encumbrance Number C153746. <br /> <br />B. Required approval, clearance, and coordination have been accomplished from and <br />with appropriate agencies. <br /> <br />C. Pursuant to the provisions of B 37-60-119 and 37-60-120, 15 C.R.S. (1990), the <br />STATE is authorized to loan money for the construction of water projects for the benefit of the <br />people of the STATE, provided that the borrower assures repayment of that money. <br /> <br />D. In accordance with ~ 37-60-122.6, C.R.S. (Supp. 1996), the STATE is authorized to <br />loan money from the Emergency Infrastructure Account for projects which it determines are <br />necessary to avoid unreasonable risk of injury or damage to human health or well-being or to <br />property or crops when the CWCB also determines that the emergency condition is not the <br />result of negligence in the operation or maintenance of the infrastructure and that the viability <br />or success of the emergency project is not dependent upon further appropriations or loans. <br /> <br />E. The DISTRICT is a duly constituted Colorado water conservancy district organized <br />pursuant to Article 45 of Title 37, C.R.S. (1990), located in Montezuma County, State of <br />Colorado. <br /> <br />F. The BORROWER is an enterprise within the meaning of ~ 37-45.1-101 et seq., C.R.S. <br />(Supp. 1996) and Article X, Section 20 of the Colorado Constitution, created in 1992 and <br />ratified by a resolution of the DISTRICT'S Board of Directors adopted December 10, 1993, which <br />is incorporated herein by reference, for purposes of pursuing and continuing water activities in <br />connection with the Mancos Project, including the construction, operation, repair and <br />replacement of water facilities related to the provision of water from and through the Mancos <br />Project. <br /> <br />Pa!=le 1 of 12 <br />