PROJC01460

• Contract/PO #: C150006
• Contractor Name: Palisade, Town of
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Bill Number: HB 95-1155
• Loan Projects - Doc Type: Contract Documents

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Mayor:
Board of Trustees:
Mayor ProTem:

Dean Smith

Town Manager:

Richard Fletcher
Geraldine Burdick
Richard Mathews
Tom Flanagan
Joe Gerber
Rick McKay
Vivian Touve

6. No litigation of any nature is now pending or, to the best of our knowledge,

threatened (either in municipal, state or federal courts):

a) Restraining or enjoining the execution or delivery of the Loan

Contract, or the issuance, execution or delivery of the Promissory Note in the principal amount of

$922,000 (the "Note") executed in connection with the Loan Contract, or the Security Agreement

executed in connection with the Loan Contract (the "Security Agreement") (collectively, the Loan

Contract, the Note, and the Security Agreement will be referred to herein as the "Loan Documents")

or the levy and collection of rates, fees and charges to make the payments due under the Loan

Documents; or the use of the proceeds of the Loan Contract made pursuant to the Loan Documents

for the purposes provided by the ordinance finally passed and adopted by the Board on November

23,1999 (the "Ordinance"); or affecting in any way the right or authority of the Town to make the

payments required under the Loan Documents, or otherwise to carry out the terms and provisions

of the Ordinance and the Loan Documents and the covenants and agreements therein and of other

proceedings authorizing the execution of or otherwise concerning the Loan Documents.

b) In any manner questioning, contesting or otherwise affecting the

authority or proceedings for the execution or delivery of the Loan Documents; or questioning,

contesting or otherwise affecting, directly or indirectly, the validity thereof, or of any provisions

made or authorized for their payment.

7. Neither the corporate existence of the Town or its present boundaries, nor the

rights of the Board and officers to hold their respective positions, is being contested or challenged;

and no proceedings or authority for the execution or delivery of the Loan Documents have or has

been repealed, rescinded, revoked, modified, changed or altered in any manner.

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