C150099 Contract

• Contract/PO #: C150099
• Contractor Name: Amity Mutual Irrigation Company
• Contract Type: Loan
• Water District: 67
• County: Kiowa
• Bill Number: HB 02-1152
• Loan Projects - Doc Type: Contract Documents

RESOLUT'IONS OF THE BOARD OF DIRECTORS
OF THE AMITY N�UTUAI- �RRIGATION COMPANY
The Board of Directors of the Amity Mutual Irrigation Company (Company), at a meeting
held March 4, 2002, at Holly, Colorado, adopt �te of �Co orado Wat � rvation Board
in the amount of up to $360,000 ftam the S
(CWCB), for the purpose of rehabilitation of the Neenoshe Reservoir Dam.
At said meeting, the Board charged that these resolutions are irrepealable during the term of
the loan and, pursuant to the Company's bylaws, authorized the President and Corporate
Secretary, RESOLVED as follows.
2.
3.
4.
5.
6.
7.
To enter into and comply with the terms of a contract with the Colorado Water Conservation
Board for a loan in the amount of $360,000, or such actual amount, more or less, as needec!
and available from the CWCB up to 90% of the project costs, and
To levy and oollect assessments from the sharehotders in an amount sufficient to pay the
annual amounts due under the Loan Contract, and to pledge assessment revenues and the
Company's right to receive said revenues for repayment of the loan, and
To place said pledged revenues in a speciat account separate and apart from other CoMPan�v
revenues, and
To make the annual payments required by the promissory note and to make annual deposits
to a debt service reserve fund, and
To execute a deed of trust to convey a security interest to the CWCB in certain property
owned by the Company, and
To execute all documents as required by the loan contract, induding, but not limited to, a
Security Agreement and a Promissory Note, and
T o t a k e s u c h o t h e r a c t i o n s a n d t o e x e c u t e such other documents as may be necessary to
consummate and implement the loan.
CERTIFICATION
THE UNDERSIGNED, THE PRESIDENT AN� TFiE CORPORATE SECRETARY� RESPECTNEL-Y, HEREBY CERTIFY THAT
THE FOREGOING ARE TRUE AND CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A MEETING OF THE
COAAPi41VY'S BOARD OF DIRECTORS DULY CALLED AND HF1D AS ABOVE RECITED, PURSUANT TO THE COMPANYS
,-BYt;/q�IV�' /fWIQTHATSAID RESOLUTIONS HAVE NOT BEEN AMENDED OR RESCIND�.
- • � ,... r_.., �
� �`� �, • ' • r �� DAY OF MARC 2002.
-' ��C31VEN SJNDEFt.qUR HANDS AND THE SEAL OF THE COMPANY THE �_ �
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_ .� : � � .,� y ark, President
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EXHIBIT
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