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t . <br /> • CONTRACTOR: LOGAN WELL USERS Agency Name: Water Conservation Board <br /> Contract No. CI50181 Agency Number PDA 1� � �� � <br /> Contract Amount$193,085 Routing Number <br /> CONTRACT <br /> THIS CONTRACT, made this September 10, 2004, by and between the State of <br /> Colorado for the use and benefit of the Department of Natural Resources, Colorado <br /> Water Conservation Board, ("CWCB" or "STATE"), and Logan Well Users, Inc., a Colorado <br /> nonprofit corporation ("CONTRACTOR"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and <br /> otherwise made available and a sufficient unencumbered balance thereof remains <br /> available for payment as follows: Fund Number 424, Organization YYYY, GBL L181, <br /> Appropriation Code AED, Program WTRC, Object Code 5781, Contract Encumbrance <br /> No. C150181. <br /> 2. Required approval, clearance, and coordination have been accomplished from and <br /> with appropriate agencies. <br /> 3. CWCB's authority for making this expenditure: Senate Bill 02S-001 authorizes the <br /> 411 CWCB to make loans and grants to agricultural organizations for emergency drought- <br /> related water augmentation purposes from the CWCB Severance Tax Trust Fund <br /> Perpetual Base Account, based on recommendations from the Director of the CWCB, <br /> the State Engineer, the Commissioner of Agriculture and the Executive Director of the <br /> Department of Natural Resources. Such loans or grants may only be made if, <br /> pursuant to state or federal law, any portion of Colorado has received emergency <br /> drought designation or a disaster emergency been proclaimed due to drought. <br /> 4. The project consists of augmentation water leased and delivered during 2003 in <br /> excess of normal years due to the drought ("PROJECT"), described in Contractor's letter <br /> dated March 29, 2004. The PROJECT was approved for funding, in accordance with <br /> the Agricultural Emergency Drought Response Grant Guidelines/Procedures dated <br /> September 2004, in the amount of $193,085 by the Director of the CWCB and the <br /> State Engineer on September 8, 2004, after consulting with the Commissioner of <br /> Agriculture and the Executive Director of the Department of Natural Resources. The <br /> Letter of Approval and Contractor's letter is attached hereto as Appendix 1. <br /> NOW THEREFORE, in consideration of the mutual and dependent covenants <br /> contained herein, the parties agree as follows: <br /> A. Use of funds. The CONTRACTOR has completed the PROJECT and shall use the funds <br /> disbursed under the contract solely to pay the costs of the PROJECT. <br /> B. Disbursement of funds. The CWCB shall disburse funds to the CONTRACTOR to <br /> pay for the costs associated with the PROJECT in the following manner: <br /> Page 1of5 <br />