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^ry~~~ RESOLUTION OF THE BOARD OF DIRECTORS OF BIJOU IRRIGATION DISTRICT WHEREAS, the Bijou Irrigation District (District), in Morgan and Weld Counties, Colorado, is an Irrigation District organized under the Irrigation District Law of 1905 (C.R.S. 37- 41-101 to-160), duly organized under the constitution and laws of the State of Colorado; and WHEREAS, the District was authorized, pursuant to a special election of the qualified electors of the District, duly called and held on November 20, 2008, to incur an increase in the amount of indebtedness for an existing loan of up to $1,436,220.00 to be added to the previous principal amount of $654,480.00, with a term of repayment of 30 years at 2.25% annual interest rate, for the purpose of rehabilitating the District's Diversion Structure; and WHEREAS, the Department of Natural Resources, Colorado Water Conservation Board ("CWCB") has issued its loan commitment to finance an increase in the existing loan to the District to rehabilitate the District's Diversion Structure, subject to the District's compliance with applicable statutes regarding the authorization to incur debt; and WHEREAS, the Board of the District has determined that it is in the best interests of the District to rehabilitate the District's Diversion Structure with funds obtained from the CWCB according to the terms of the loan commitment. NOW THEREFORE, be it resolved by the District as follows: 1. THE Board of the District hereby authorizes and directs the President, Lany J. Krening, and the Secretary, Denice M. Wagner, to execute and deliver on behalf of the District a Loan Contract Amendment, Revised Promissory Note, and such other documents referenced in the loan increase commitment and required to obtain the increase in the existing CWCB loan. 2. This resolution was authorized by the Board at a Special Meeting held on November 24, 2008 and will remain in effect until termination and defeasance of the CWCB ]oan. CERTIFICATION THE UNDERSIGNED, THE PRESIDENT AND THE SECRETARY, HEREBY CERTIFY THAT THE FORECOINC IS A TRUE AND CORRECT COPY OF THE RESOLUTION DULY ADOPTED AT A MEETINC OF THE DISTRlCT'S BOARD OF DIRECTORS DULY CALLED AND HELD AS ABOVE REClTED AND THAT SAID RESOLUTION HAS NOT BEEN AMENDED OR RESCINDED. .. ~F~F,~ UNDER OUR HAND AND THE SEAL OF THE DISTRICT THE 241~' DAY OF ~ f NOV ,WiDER, 2008. . -,_ ti •, , ~' . ;~ i .~ : r~. .~ j ~~r'~L ) _._ i~ ATT . ~ '/ BY ~ l ~-,~ ~~~ ~~ ~~ Dcnicc M. W~ ner, Scrretary ~ ~ By ~ ,/ ~. ~rry . Kr ning, Pr~ dent ` ; APPENDIX A