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<br />Colorado River Water Conservation District <br />Resolution <br />Page 2 of2 <br /> <br />2. The forms of the Loan Contract and the Loan Documents, and any changes <br />thereto as may be necessary in the opinion of the attorney for the District and/and the Enterprise, <br />in consultation with the General Manager, to effectuate the intentions of the parties or to comply <br />with the provisions of applicable law, are hereby approved. <br /> <br />3. The Enterprise is hereby authorized and directed to execute and deliver the Loan <br />Contract and the Loan Documents to the CWCB. <br /> <br />4. The Enterprise is authorized to repay the Loan under the Loan Contract to <br />CWCB. The obligation for repayment of the Loan evidenced by the Loan Contract shall be <br />secured by (i) a pledge of the Enterprise's revenues; and, (ii) if the CWCB shall so require, a <br />cash account with a balance equal to one year's debt service (principal and interest) on the Loan. <br /> <br />5. All action not inconsistent with the provisions of this Resolution heretofore taken <br />by the Enterprise or its officers and otherwise directed toward the execution and delivery of the <br />Loan Contract and the Loan Documents is hereby ratified, approved and confirmed. <br /> <br />THIS RES LUTION was introduced, read, passed and adopted by the COLORADO <br />RIVER WATER ONSERVATION DISTRICT COLORADO RIVER WATER PROJECTS <br />ENTERPRISE on I~ , 2005. <br /> <br /> <br /> <br />COLORADO RIVER WATER <br />CONSERVATION DISTRlCT COLORADO <br /> <br />7MS~ <br /> <br />(SEAL) <br /> <br />Atte(Uu> L l?..L <br /> <br />Secretary <br /> <br />~'ilIcI~JI!l.i~.'Gnttifll~~'W~\b~~~JFile'LK2E\Reso-CWCB'WPd <br />