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... NOV 12 '96 02:03PM DUFFORD & WALDECK P.2 RESOLUTION OF ORCHARD MESA IRRIGATION DISTRICT CREATING A WATER ACTIVITY ENTERPRISE The undersigned, being a majority of the directors of the Orchard Mesa Irrigation District (uO:MID") at a special board meeting at which a quorum of directors is present, consent to, adopt and vote in favor of the foHowing resolution: RECITALS A. OM]D is an irrigation district operating under the provisions of Article 42 of Title 37, Colorado Revised Statutes. B. OMID has determined that it will benefit landowners within its service area to place the Mutual Mesa Lateral section of its delivery system, which is currently open ditch, in closed pipe ("referred to below as the "Mutual Mesa Project"). Doing so will reduce seepage from the open ditch, thereby making delivery to the Mutual Mesa Lateral more efficient and allowing a greater portion of water available to orvnn to serve other portions of its service area. In addition, closing the open ditches in the Mutual Mesa system will reduce potential future liabilities for OMID. C. The Colorado Water Conservation Board has indicated that, while it will not directly loan OMID the funds necessary to penonn the Mutual Mesa Project, it will loan the necessary funds to a Water Activity Enterprise fonned by OMID to undertake the Mutual Mesa Project D. Therefore, OIvfiD desires to form a water activity enterprise to undertake the Mutual Mesa Project and be responsible for its maintenance and repair in the future. RESOLUTION 1. Formation of Enterorise. Pursuant to C.RS. ~ 37-45.1-103, OMID hereby forms the Mutual Mesa Lateral Enterprise (uMMLE"). 2. Pw1>oses. The MMLE is formed for the limited pwposes of: (i) contracting with one or more lenders for the funds necessary to complete the Mutual Mesa Project in one or more phases; (ii) contracting with one or more contractors for the goods, services, materials and labor required to complete the Mutual Mesa Project in one or more phases; (iii) owning, during the life of any loan required to construct the Mutual Mesa Project, new structures and facilities installed or constructed as part of the Mutual Mesa Project; and, (iv) performing all future major maintenance and repairs of those portions of the Mutual Mesa Lateral piped or improved by the Mutual Mesa Project. 3. Powers. The MMLE shall have all powers granted water activity enterprises under the provisions ofC.RS. ~~ 37-45.1-101 to 107 (the "Act"), including without limitation, the power to issue or reissue bonds, notes, or other obligations payable from revenues derived or to be derived from the provision of services and to set rates, fees and charges for services provided by the 1'vfMLE. The powers and authorities granted in this Resolution shall not modify, limit or.resni~t the powers conferred by any other law directly or indirectly affecting the activities of the MJvfLE, except as expressly provided in this Resolution. In no event shall the MMLE have the power to levy any tax or to direct O:MID to exercise its taxing powers on behalf of the 1'vfMLE.