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<br />LITTLE THOMPSON WATER DISTRICT
<br />
<br />DIRECTORS:
<br />Robert Boggio, President
<br />Dean Anderson
<br />Keith Croonqulst
<br />Richard Macomber
<br />Dave Lorenz
<br />Carey J, Salomonson
<br />Alex Sauer
<br />
<br />Manager:
<br />Richard H,H. Wbittet
<br />
<br />RESOLUTION OF THE BOARD OF DIRECTORS
<br />OF THE LITTLE THOMPSON WATER DISTRICT
<br />ACTING BY AND THROUGH THE LITTLE THOMPSON
<br />WATER DISTRICT WATER ACTIVITY ENTERPRISE
<br />
<br />Telephone (970) 532-2096
<br />835 E. ffighway 56
<br />Drawer G
<br />BerthODeI, CO 80513
<br />www,ltwd,org
<br />
<br />The Board of Directors of The Little Thompson Water District acting by and through the Little
<br />Thompson Water District Water Activity Enterprise (District), at a meeting held October 7,2004,
<br />at Centennial Bank, 807 Mountain Avenue, Berthoud, Colorado, adopted the following
<br />resolution concerning a loan in the amount of up to $3,937,500, not to exceed 75% of project
<br />costs, from the State of Colorado Water Conservation Board (CWCB), for the purpose of a new
<br />water storage reservoir construction in a 50/50 partnering with Central Weld County Water
<br />District.
<br />
<br />At said meeting, the Board ,charged that these resolutions are irrepealable during the term of the loan
<br />and authorized the President and the Secretary, RESOLVED as follows.
<br />
<br />1. To enter into and cqmply with the terms of a Loan Contract with the Colorado Water
<br />Conservation Board for a loan in the amount of $3,937,500, or such actual amount, more or less,
<br />as needed to finance up to 75% of the project costs, and
<br />
<br />2. To levy and collect water revenues from the tapholders in an amount sufficient to pay the annual
<br />amounts due under the Loan Contract, and to pledge water revenues and the Little Thompson
<br />Water District's right to receive said revenues for repayment of the loan, and
<br />
<br />3. To place said pledged revenues in a special account separate and apart from other DISTRICT.
<br />revenues, and
<br />
<br />4. To make the annual payments required by the promissory note and to make annual deposits to a
<br />debt service reserve furnd, and .
<br />
<br />5. To execute all documents as required by the Loan Contract, including, but not limited to, a
<br />Security Agreement and a Promissory Note, and
<br />
<br />6. To take such other actions and to execute such other documents as may be necessary to
<br />consummate and implement the loan.
<br />
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<br />
<br />CERTIFICATION
<br />
<br />The undersigned, the President and the Secretary, respectively, hereby certify that the foregoing are
<br />true and correct copies of resolution duly adopted at a meeting of the Little Thompson Water District
<br />Board of Directors duly called and held as above recited, pursuant to the laws of the State of Colorado,
<br />and that said resolution has not been amended or rescinded.
<br />
<br />fl'
<br />
<br />
<br />A YOF OCTOBER 2004.
<br />
<br />~,IVEEN; 4f'JPEROUR HANDS AND THE SEAL OF THE LITTLE THOMPSON WATE
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<br />Appendix 3 to Loan Contract C150121
<br />
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