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<br />RESOLUTION OF THE SHAREHOLDERS <br />OF THE DEWEESE DYE DITCH COMPANY <br /> <br />Concerning a loan in amount of $1 7,450 from the State of Colorado Water <br />Cons8:~vation Board (STATE), for the purpose of performing a feasibility study <br />of the..... DeWeese Dam, the following resolutio~were adopted by the <br />Shareholders of the DeWeese-Dye Ditch and Reser .rJtc('lih,y (COMPANY), <br />at a Shareholders' annual meeting held January ,~ Canon City, <br />Colorado. The Shareholders hereby char~~q.at these resolutions be <br />irrepealable during the life of the loan and Il~Iiltl>rrzT tTe. Board of <br />Directors as follows:",' I"-ULL <br /> <br />1. RESOLVED, to enter into a contract with the Colorado Water Conservation <br />Board for a loan in the amount of $17,450, and to comply with all the terms <br />of the loan contract, and <br /> <br />2. RESOLVED, to make and levy assessments sufficient to pay the amounts <br />for the annual loan payment, and <br /> <br />3. RESOLVED, to place assessment revenues pledged to make annual loan <br />payments in a special account separate and apart from other COMPANY <br />revenu(3l:), and <br /> <br />4. RESOLVED, to make annual payments in accordance with the loan <br />contract, and <br /> <br />5. RESOLVED, to obtain a certificate of deposit to serve as collateral in the <br />amount of one annual loan payment ($2,071.86) as security for the loan, and <br />to execute an assignment of certificate of deposit in accordance with the loan <br />contract, and <br /> <br />6. RESOLVED, to execute a security agreement to secure the revenues <br />pledged to repay the loan. <br /> <br />Adopted this 11 th day of January 1997. <br /> <br />DeWeese-Dye Ditch and <br />Reservoir Company <br /> <br />By '~kFD~~~;e~~i-1 <br /> <br />ATTEST: <br /> <br />,r, <br /> <br />B'l~ ~::J-r;--::z-c~~ <br />Rose Moschetti, Secretary <br /> <br />Appendix B to Contract #C153749 <br />