PROJC01666

• Contract/PO #: C153738
• Contractor Name: Georgetown, Town of
• Contract Type: Loan
• Water District: 6
• County: Clear Creek
• Bill Number: SB 96-153
• Loan Projects - Doc Type: Contract Documents

'.~.

AGENCY NAME: Water Conservation Board

AGENCY NUMBER: PDA
ROUTING NUMBER: qq PJ>A O()OiB

$190,000

LOAN CONTRACT

THIS CONTRACT, made this 10Th day of "D.ECE-/1Be..,e 1998, by and
between the State of Colorado for the use and benefit of the Department of Natural Resources,
Colorado Water Conservation Board ("CWCB"), hereinafter referred to as the STATE, and the TOWN
OF GEORGETOWN hereinafter referred to as the TOWN and the TOWN OF
GEORGETOWN WATER AND SEWER ACTIVITY ENTERPRISE, P.O. Box 426,
Georgetown, Colorado 80444, hereinafter referred to as the BORROWER and/or CONTRACTOR.

FACTUAL RECITALS

A. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available for payment in Fund
Number 424, Organization yyyy, Appropriation A01 GBL GEOR, Program WTRC, Object Code
5110, Reporting Category 3738, Contract Encumbrance Number C153738.

e. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.

C. Pursuant to the provisions of SS 37-60-119 and 37-60-120, C.RS. (1998), the STATE is
authorized to loan money for water projects for the benefit of the people of the State of Colorado
provided that the borrower assures repayment of that money.

D. The Town of Georgetown is a territorial charter town pursuant to COLO. CONST. art. XIV, S 13,
located in Clear Creek County in the State of Colorado.

E. The BORROWER is an enterprise within the meaning of S 37-45.1-101 et sea., C.R.S. (1998) and
Article X, Section 20 of the Colorado Constitution, and was established by Ordinance No. 492
(Series of 1998) of the Board of Selectmen of the TOWN dated December 8, 1998, which is
incorporated herein by reference.

F. Pursuant to SS 37-45.1-101 et sea. C.R.S. (1998), the BORROWER is authorized to contract to
borrow money provided that a resolution has been duly adopted by the governing body of the
BORROWER authorizing repayment of the loan to the STATE according to the terms of the contract.

G. The TOWN applied to the STATE for a loan to be used for the purchase of one and one-half shares
in the Farmers' High Line Canal and Reservoir Company ("FHL Shares"), hereinafter referred to
as the PROJECT, for use in an augmentation plan and exchange that will replace out-of-priority
depletions to Clear Creek caused by the Town's municipal water use. After purchasing the FHL
Shares, the Town will apply to water court for such changes of use and plan for augmentation as
deemed appropriate in order to utilize the FHL Shares.

H. The STATE has reviewed a feasibility report compiled by McLaughlin Water Engineers, Ltd., which
is incorporated herein by this reference, and, based upon the feasibility report, the STATE

Town of Georgetown & Town of Georgetown
Water and Sewer Activity Enterprise

Page 1 of 11