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/ AGENCY NAME: Water Conservation Board / AGENCY NUMBER: PDA ROUTING NUMBER: Ii'- 0(; Oc~ $510,469 LOAN CONTRACT . THIS CONTRACT, made this Z! j) 7J-f day of ~A N It A f2 ~ / t'ICflbY 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 JULESBURG IRRIGATION DISTRICT, 315 Cedar, Julesburg, Colorado 80737, 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 b"lance thereof remains available for payment in Fund Number 424, Organization YYYY, Appropriation EIA, Program WTRC, Object Code ~ Reporting Category 3827, GBL J827, Contract Encumbrance Number C153827. j If B. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. C. Pursuant to the provisions of SS 37-60-119 ilnd 37-60-120, C.RS., the STATE is authorized to loan money for the construction of water projects for the benefit of the people of the State provided that the borrower assures repayment of that money. D. Section 37-60-122.6, C.RS. authorizes the STATE to loan money from the Emergency Infrastructure Account for projects that it determines are necessary to avoid unreasonable risk of injury or damage to human health or well-being or to properly or crops when the STATE also determines that the emergency condition is not the result of negligence in the operation or maintenance of the infrastructure and that the viability or success of the emergency project is not dependent upon further appropriations or loans. E. The BORROWER is a duly formed Colorado irrigation district governed by Articles 41 and 43 of Title 37, C.RS., located in Logan County in the State of Colorado. F. The BORROWER'S diversion structure, which is used in the spring to divert water from the river to fill the Julesburg Reservoir and to provide water for irrigation of surrounding farmlands, was destroyed by high water in June 1997. Without replacing the diversion structure, most district landowners will not receive irrigation water in 1999, which threatens the viability of their crops. G. The BORROWER held an election on December 2,1997, whereby its electors approved increasing the BORROWER'S debt by up to $510,469.00 for the purpose of constructing a new diversion structure in the South Platte River at the Harmony Ditch No. 1 Diversion, as shown on the BORROWER'S Special Election Official Return, which is incorporated herein by reference. H. The BORROWER applied to the STATE for a loan from the Emergency Infrastructure Repair Account, to be used to finance the construotion of a new diversion structure for the Harmony Ditch No.1, hereinafter referred to as the PROJECT. Julesburg Irrigation District p@ge10f12 Loan Contract