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<br />e <br /> <br />e <br /> <br />RESOLUTION OF THE BOARD OF DIRECTORS <br />OF THE LOWER SOUTH PLATTE WATER CONSERVANCY DISTRICT <br />ACTING BY AND THROUGH THE LOWER SOUTH PLATTE RECHARGE PROJECT <br />WATER ACTIVITY ENTERPRISE <br /> <br />The Board of Directors of the Lower South Platte Water Conservancy District acting by and through the <br />Lower South Platte Recharge Project Water Activity Enterprise (District), at a Board of Director's meeting <br />held October 2, 2001 at Sterling, Colorado adopted this resolution concerning a loan in the amount of up to <br />$100,000.00 from the State of Colorado Water Conservation Board (State), for the purpose of construction <br />of an augmentation well and recharge ponds near the stateline at Julesburg, Colorado. <br /> <br />At said meeting, the Board charged that these resolutions are irrepealable during the term of the loan and <br />pursuant to authority granted by ~37 -45-101 et. seq. to said District, authorized the President and Secretary <br />as follows: <br /> <br />1. RESOLVED, to enter into and comply with the terms of a contract with the Colorado Water <br />Conservation Board fora loan in the amount of $100,000.00, and <br /> <br />2, RESOLVED, to levy and collect assessments from GASP and/or the lands under Class D Contracts <br />with trnrElistrict purstJantto -Section 3745-t25C.RS. in-an amount suffieieAt ta J'}ay-ttle annual <br />amounts due under the loan Contract, and to pledge assessment revenues and the District's right <br />to receive said revenues for repayment of the loan, and <br /> <br />3. RESOLVED, to place said revenues in a special account separate and apart from other District <br />revenues, and <br /> <br />4. RESOLVED, to make annual payments required by the promissory note and to make annual <br />deposits to a debt service reserve fund, and . <br /> <br />5. RESOLVED, to execute all documents as required by the loan contract, including, but not limited <br />to, a Security Agreement, Conditional Assignment of Contract Proceeds, and a Promissory Note, <br />and <br /> <br />6, RESOLVED, to take such other actions and to execute such other documents as may be necessary <br />to consummate and implement the loan. <br /> <br />CERTIFICATION <br /> <br />The undersigned, respectively, the President and the Secretary, respectively, hereby certify that the <br />foregoing is a true and correct. copy of the resolution duly adopted at a meeting of the District's Board of <br />Directors duly called and held as above recited, pursuant to the laws of the State of Colorado, and that said <br />resolution has not been amended or rescinded. <br /> <br />Given under our hands and the seal of the District the 2nd day of October, 2001. <br /> <br />LOWER SOUTH PLATTE WATER <br />CONSERVANCY DISTRICT ACTING BY AND <br />THROUGH THE lOWER SOUTH PLATTE <br />RECHARGE PROJECT WATER ACTIVITY <br />ENTERPRISE <br /> <br />~#~ <br />James A. Powers, President <br /> <br />C:\My Documents\Resolution for CWCS Loan,dat <br /> <br />Appendix 3 to Loan Contract C150067 <br />