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<br />AGENCY NAME: Water Conservation Board
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<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER:
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<br />$ 75,000
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<br />FEASIBILITY REPORT LOAN CONTRACT
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<br />THIS CONTRACT, made this I~ day of M A !2C/-f 2000, by and
<br />between the State of Colorado for the use and benefit of the Department of Natural Resources,
<br />Colorado Water Conservi;ltion Board, hereinafter referred to as the CWCB and/or STATE, and the
<br />Dolores Water Conservancy District, hereinafter referred to as the DISTRICT, and the Dolores
<br />Water Conservancy District Water Activity Enterprise, hereinafter referred to as the BORROWER
<br />and/or CONTRACTOR, 1st & Cactus Street, P,O, Box 1150, Cortez, CO 81321,
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<br />FACTUAL RECITALS
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<br />A. 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 in Fund
<br />Number 424, Organization YYYY, Appropriation Code FSL, GBL D003, Program WTRC, Object
<br />Code s.:reo: Reporting Category 0003, Contract Encumbrance Number C150003,
<br />~o
<br />B, Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies,
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<br />C, Pursuant to the provisions of SS 37-60-119 and 37-60-122(1)(c), C,RS, (1998), the STATE is
<br />authorized to loan money for the construction of certain water projects for the benefit of the
<br />people of the State of Colorado, and to expend moneys for feasibility studies on such projects,
<br />provided that the borrower assures repayment of that money,
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<br />D, The DISTRICT is a water conservancy district formed pursuant to and governed by Article 45 of
<br />Title 37, C,RS, (1998), located in Dolores and Montezuma Counties, Colorado,
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<br />E, The BORROWER is an enterprise within the meaning of S 37-45,1-101 et seq" C,RS, (1998) and
<br />Article X, Section 20 of the Colorado Constitution, and was established by Resolution No, 93-02
<br />of the Dolores Water Conservancy District, dated December 14, 1993, Said Resolution is
<br />incorporated herein by reference.
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<br />F, The BORROWER has applied to the STATE for a loan to finance the costs of a feasibility study
<br />(hereinafter referred to as STUDY) of alternatives for development of additional water supplies
<br />(hereinafter referred to as PROJECT), at a cost of approximately $250,000,
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<br />G, At its July 13-14,1998 meeting, the eWCB approved a loan to the DISTRICT and the BORROWER
<br />in an amount not to exceed $75,000 or fifty percent (50%) of the cost of the STUDY at an interest
<br />rate of 3,5% per annum for a term not to exceed 10 years to finance the costs of the STUDY,
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<br />H, The STATE now desires, by this contract, to loan money to the DISTRICT and the BORROWER for
<br />this STUDY upon mutually agreeable terms and conditions,
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<br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained, the
<br />parties agree as follows:
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<br />Feasibility Report Loan Contract
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