<br />PROJECT costs expended for that period and shall forward said statement to the CWCB, After
<br />receipt of the periodic progress report from the BORROWER, and review and acceptance of the
<br />items therein as eligible expenses as described below, the CWCB will pay to the BORROWER the
<br />amount set forth in the report or such portion that has been approved by the CWCB, Such
<br />payment shall be made within thirty (30) days from the CWCB's approval of each progress
<br />report,
<br />
<br />SECTION 7 - CONSTRUCTION FUND PROGRAM PROCEDURES
<br />
<br />A, The BORROWER shall employ an engineer, registered in the state of Colorado to prepare plans
<br />and specifications for the PROJECT,
<br />
<br />B, The BORROWER'S and the Engineering Consultant's Agreements and the plans and
<br />specifications must be submitted to the CWCB staff for verification of compliance with the
<br />terms of this contract when available prior to bidding. Any modifications to the plans and
<br />specifications must be approved in writing by the CWCB staff,
<br />
<br />C, For plans and specifications for all jurisdictional dams and reservoirs, as defined by S 37.87-
<br />105 C,RS" the BORROWER shall provide a letter of approval from the State Engineer's Office
<br />prior to construction,
<br />
<br />D. CWCB staff must be present at bidding and must approve the award of the construction
<br />contract
<br />
<br />E, The BORROWER shall contract for the construction of the work with responsible and capable
<br />Construction Firms, which said Construction Firms shall be selected by the BORROWER and
<br />found acceptable by the CWeB staff,
<br />
<br />F, The BORROWER must provide a copy of the executed construction contract documents
<br />consisting of the contractor's proposal, construction contract, performance bond, payment
<br />bond, notice of award, notice to proceed, sample change order, and sample field order, as
<br />well as the advertisement for bid and bid bond at bidding, After the CWCB staff verifies that
<br />these documents comply with the terms of this contract, the BORROWER may issue the notice
<br />to proceed to the Construction Firms,
<br />
<br />G, The BORROWER shall conduct a pre-construction conference at which time the CWCB staff
<br />shall have the opportunity to review and approve the construction schedule,
<br />
<br />H, If the CWCB staff determines that the PROJECT requires a resident inspector during
<br />construction, the BORROWER shall employ an inspector who has been approved by the CWCB
<br />staff,
<br />
<br />L The BORROWER shall construct the PROJECT in accordance with the approved plans and
<br />specifications,
<br />
<br />J, Upon completion of the PROJECT construction, the BORROWER shall provide as-built drawings
<br />of the PROJECT to the CWCB staff, or, if required by S 37-87-105, C,RS" the BORROWER shall
<br />provide the as-built drawings to the State Engineer's Office for approval and filing,
<br />
<br />K, Upon completion of the PROJECT construction, the BORROWER shall arrange a final inspection
<br />for the CWCB staff,
<br />
<br />L The BORROWER shall pay all of the expenses related to the PROJECT when such bills are due.
<br />
<br />SECTION 8 - EUGIBLEExPENSES, The following items are eligible for loan disbursements,
<br />
<br />A Preparing final designs and specifications for the PROJECT,
<br />
<br />
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