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· OMID agrees to use the lands it owns as grant security in favor of the United States. Comment This contract term can not be met. OMID does not own any land. May 12, 1995, Jeff Burwell, one of the contract signers was notified by let- ter that OMID could not meet this term. MMLE does not have a contract with the United States for federal funds. Therefore, the United States intentionally issued unappropriated funds to a non existent entity after having been duly advised for nearly two years by citizens that neither OMID or MMLE Qualify for these funds. CWCB Loan Contract & Promissory Note C1532723 The Colorado Water Conservation Board Water Project Construction Loan pro- gram provides low interest loans for the construction and rehabilitation of water resources projects that are in substantial conformity with the state water conser- vation plan for unallocated waters of the State. No evidence has been found documenting the MML project is a part of this plan. The Water Activities - Enterprise Statutes describe a water activity enterprise as a government water activity business receiving under ten percent of its annual revenue from qrants from all Colorado state and local governments combined, and which is authorized to issue its own bonds. A water activity enterprise may not levy a tax which is subject Amendment 1. Comment: MMLE has no revenue source, is not incorporated, and does not have statutory authority to issue bonds. The Water Conservation Board was formed according to Article 60 of the Colo- rado statutes. Paragraph 37-60-118 states that the money CWCB loaned MMLE is from a federal aid water plan fund grant contributed to the State of Colorado by the federal government. Comment: MMLE can not form a water activity enterprise because 100% of the loan from CWCB is revenue from a grant. This contract states CWCB will loan MMLE $871,000 for 30 years at 4% interest. Upon receipt of the salinity control grant OMID agrees to transfer the $400,000 to MMLE. MMLE then agrees to apply that amount to be applied to the repay- ment of the loan. At this time the loan will be amended to reflect new repayment terms. The grant contract states that the grant funds will be used in addition to the loan. 15 ~~~ ////~~