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<br />Little Thompson Water Activity Enterprise Resolution
<br />Grimshaw & Harring DRAFT 11/30/93
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<br />B J;; ~ Q :!! !! ~ .I Q!! NO. q.3- ,
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<br />WHEREAS, Little Thompson Water District, Larimer, Weld,
<br />and Boulder Co~nties, Colorado (the "District"), is a water
<br />district and pOLitical subdivision of the State of Colorado, duly
<br />organized and operating under the constitution and laws of the
<br />State of Coloraqo; and
<br />
<br />,
<br />WHEREAS, pursuant to the provisions of Title 37,
<br />Article 45.1, Colorado ReVised Statutes (the "Water Activity Law"),
<br />state and local governmental entities which have their own bonding
<br />capacity under applicable law are authorized: (i) to establish or
<br />continue to maintain water activity enterprises for the purpose of
<br />pursuing or continuing water activities, which includes the
<br />diversion, storage, carriage, delivery, distribution, collection,
<br />treatment, use,: reuse, augmentation, exchange, or discharge of
<br />water; and (ii) to issue or reissue bonds, notes, or other
<br />obligations payable from the revenues derived or to be derived from
<br />the function, s~rvice, benefits, or facility or from any other
<br />available funds bf the enterprise, the terms and conditions of such
<br />bonds or other 9bligations to be as set forth in the resolution
<br />authorizing the same and, as nearly as practicable, as provided in
<br />Part 4 of Articl~ 35 of Title 31, C.R.S., relating to water revenue
<br />bonds; and
<br />
<br />WHERE~S, in order to qualify as a water activity
<br />enterprise under the Water Activity Law, the enterprise must
<br />consist of a government water activity business owned by a
<br />governmental entity such as the District, which enterprise receives
<br />under 10% of its: annual revenues in,grants from all Colorado state
<br />and local governments combined, and which is authorized to issue
<br />its own revenue 'bonds; and
<br />
<br />WHERE~S, the District has heretofore determined and
<br />undertaken to acquire and develop certain properties and facilities
<br />for the treatment, transmission, distribution, storage, and
<br />provision of wa~er (the "System"); and
<br />
<br />WHEREAS, the System has been and continues to be operated
<br />as a "water activity enterprise" within the meaning of the Water
<br />Activity Law; and
<br />
<br />WHEREAS, the District is authorized to issue System
<br />revenue bonds b~ virtue of S32-1-1101, C.R.S.; and
<br />,
<br />,
<br />
<br />WHEREAS, it is the intent of the District to continue the
<br />operation of th~ System as a water activity enterprise, and to
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