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RESOLUTION #1-2005 <br />A RESOLUTION AUTHORIZING THE TOWN OF HIL�LROSE TO ENTER INTO A <br />LOAN CONTRACT WITH THE COLORADO WATER.CONSERVATiON BOARD TO <br />PURCHASE WATER RIGHTS FOR USE IN WELL AUGMENTATION PLANg <br />BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF HILLROSE, <br />COLORADO: <br />1. The Town of Hillrose shall enter irrta and comply with the terms of a Loan <br />Contract with the Colorado Water Conservation Board for a loan in the amourrt of <br />�j69,311.00, or such actual amount, more or less, as needed to finance the <br />purchase of water rights for use in the Town's well augmentation plans. <br />2. The Town of Hillrose, acting pursuant-to Ordinanoe No. 53, Resolution No, g- <br />2004, and any other ordinances and resoludons that may be enacted as <br />�necessary, shall levy and collect water revenues from all tap holders in an <br />amount sufficient to pay the annuai amounts due under the Loan Contract. <br />3. The Town of Hillrose may pledge water revenues and the Town's right�o receive <br />water revenues for repaymerrt oi the Loan. The pledged �evenues may be <br />placed in a special account separate and apart from other Town revenues. <br />4. The Town of Hillrose shall make the annual payments required by the <br />Promissary Note and make anrival deposits to a debt service fund. <br />5. The Mayor of the Town of Hillrose, ac4ng in his official capacity, is hereby <br />authorized to execute all documents as required by the Loan Cor�tract, inciuding, <br />but not limited to, a Security Agreement and a Promissary, note. <br />6. The Mayor of the Town of Hilirose, acting in his official capacity, is iurther <br />authorized to take such other actions and to execute such other documents as <br />may be necessary to consummate and to implement the Loan. <br />RESOLUTION PASSED, APPROVED AND ADOPTED THIS 3RD DAY OF JANUARY <br />2005, upon a roli call vote of: <br />Ayes: �. <br />Nays: p <br />,�;: f' '••::y-� <br />r(�' �� • f " ��G!n'L�� �.J�•,.f — <br />• � ;o= - Donald 1. Dewey, Mayor <br />�'� • � 'r' - <br />s,Oa: _ _ ,-,.�� <br />Ann <br />RESOLUTION #1-zoos Appendix 3 to Loan Contract C150178 <br />