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7. Loan Contract No. G150030 ("Loan Contract") between the CWCB, the T~i~~rict and the Fnterprise, a rnpy of which is attached and incorporated herein as Exhibit A, and which provides for a loan by the CWCB to the Enterprise of $100,000.U0 for the rehabilita tion of a waterdiversion and deliverysystem, is herebyauthorized and approved. 2. Pursuant to the terms of the Loan Contract, and consistentwith the authority set forth in Section 37-45.1-11)4, C.IZ.S (1y~9), the Enterprise does hereby irrevocably pledge the revenues from water user charges, rates and fees in such amounts as sufficient to timely and fully pay each and every annual loan installment, and to make annual deposits to a debt service fund. 3. The Enterprise shall take all necessary actions within its authority and power during the term of the Loan Contract to establish, levy and collect water rates, charges and fees in an amount sufficient to timely and fully e loan. 4. The Enteiprise shall, in co wit the District, establish and maintain distinct and separate accounts into w' p ited pledged revenues for the payment of the loan and for a debt r r. 5. The Enterprise shall pledge its interest in certain property of the District as collateral for the loan from the CWCB and execute documents necessary to convey a secw•ity interest in said property to the CWCB, and/or obtain a Certificate of Deposit in the amount of one annual loan payment to se~~ve as collateral, and to execute an Assignment of Certificate ol De~osit. 6. The Enterprise shall execute all documents as required by the Loan Contract, including, but not limited to, a Security Agreement, Assignment of Certificate of Deposit Account as Security, and a Promissory Note. 7. The Enterprise shall take such other actions and execute such other d~~cum~nts as may L~e necessary to consun~mate and implement the loan with the CWCB. Res~~lr.itinn Silt 6Vnfr~r C'~~n,ticrz~m~ci/ DiStricF Wr7ter Activiti/ E~~ter~~ris~ 1'~,;;~• =