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r <br />RESOLUTION NO. 2002- °� � <br />A RESOLUTION APPROVING A LOAN FROM THE <br />COLORADO WATER CONSERVATION BOARD IN THE <br />PRINCII'AL AMOUNT OF $15,000,000; AUTHORIZING THE <br />FORM AND EXECUTION OF THE LOAN CONTRACT, A <br />PROMISSORY NOTE TO EVIDENCE SUCH LOAN, AND A <br />SECURITY AGREEMENT IN CONNECTION THEREWITH; <br />AUTHORIZING THE EXECUTION AND DELIVERY OF <br />DOCUIVIENTS RELATED TI�RETO AND PRESCRIBING <br />OTHER DETAILS IN CONNECTION THEREWITH. � <br />WHEREAS, the Parker Water and Sanita.tion District acting by and through its <br />water activity enterprise and its sanitary sewer activity enterprise (the "District"), in the County <br />of Douglas and State of Colorado, is duly organized and existing under the Constitution and the <br />laws �f the State of Colorado; and <br />WHEREAS, the members of the Board of Directors of the District (the "Board") <br />have been duly elected, chosen and qualified; and <br />WHEREAS, the Board has heretofore determined that the interest of the District <br />and the public interest and necessity demand and require the acquisition, construction, and <br />completion of certain water facilities, at a cost of not to exceed $103,000,000, including design, <br />engineering, legal, financing and administrative costs relating thereto, and any other costs <br />incidental thereto (the "Project"); and <br />WHEREAS, the Board has determined that in order to finance a portion of the <br />Project, it is necessary and advisable and in the best interests of the District to enter into a loan <br />contract (the "Loan Contract") with the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB"), pursuant to which CWCB sha111oan the District an amount of <br />$15,000,000 for such purposes; and <br />WHEREAS, the City's repayment obligations under the Loan Contract shall be <br />evidenced by a promissory npte (the "Promissory Note") to be issued by the City to the CWCB; <br />and <br />W�REAS, the Promissory Note, the Loan Contract and the security agreement <br />executed in connection with the Loan Contract (the "Security Agreement" and collectively with <br />App�ndix 3 to Loan Contrac# C150090 <br />