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PROJC02506
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PROJC02506
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Last modified
6/15/2011 10:09:39 AM
Creation date
7/15/2009 4:01:09 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150193
Contractor Name
Dolores Water Conservancy District
Contract Type
Loan
Water District
34
County
Montezuma
Loan Projects - Doc Type
Contract Documents
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' ~ ~ <br />~., <br />NOW, T~IEREFOIZE, the Board of Directors of the District resolves as follows: <br />1. Borrawer shall execute an amended I nvestment A~eement with MBI.A <br />Inc., in the principai ivmount of $2,036,36~.05 with approximate inte.rest rate of <br />5.48590% which wi:ll pr.oduce funds to repa,y the CWCB approximately $137,3~ 1.44 <br />annually under the ~riginal Loan Contract. <br />2. Borrower shall execute a new t,~rce-year, short term inve5tment Loan <br />Agreemen[ witil MBIA Inc., at aui interest rate of approximately 5.3b% as initial <br />substituted security for the New Loan. together with a promise to the CWCB to invest in <br />a new Long Term. annuity with MHIA Inc., upon the termination of thc three-year <br />inveshnent to meet the require~ents under the New Loan. <br />ADOP7ED this 13`" day of July, 2Q06. <br />~J~-- <br />onald W. Schwindt, President <br />Do)ores Water Co~nsetvancy Diatrict <br />CERTI~ICATION <br />I, Jam~s C. Fisher, Sectetary of [h.e Board. of Dircctors of the Dolores Water <br />Conservancy District, do h.ereby certify that the above resolution was adopted by the <br />Board of Directors az a regular meeting held on July 13. 2006, by a vote of 7 to 0. <br />l% . <br />es C. Fisher, Secretary <br />Dolores Waier Conservnncy Distriet <br />W:~ps\DWCD\ResolucionaVlmeM M D IA Agreemrne~2-Aist.dac 1 OIZi/06 <br />Appendix C to Loan Contract C150193 Amendment No. 1 <br />
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