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SAN LUIS VALLEY WATER CONSERVANCY DlSTRICT <br />RESOLUTION NO: 200$ - 05 <br />A RESOLUTION TO SEEK A LOAN FROM <br />THE COLORADO WATER CONSERVATION BOARD <br />FOR THE PURCHASE OF WATER RIGHTS <br />FOR THE SAN LUlS VALLEY WATER CONSERVANCY DISTRICT'S~ <br />AUGMENTATION PROGRAM <br />WHEREAS, the Board of Directars af the San Luis Valley Water Conservancy <br />District have made the decision to serve the long term augmentation needs associated <br />with domestic, small commercial wells, and far ather water uses through its <br />Augmentation Program, and; <br />WHEREAS, for the Augmentation Program to continue it is necessary that the <br />San Luis Valley Water Conservancy District have an inventory of augmentation water, <br />and; <br />WHEREAS, efforts have been made, and are continuing to be made, to acquire <br />water rights for the Augmentation Program, and; <br />WHEREAS, there is the opportunity to acquire a One-Third interest in the trans- <br />maun~ain water rights associated with the Pine River / Weminuche Ditch, Colorado, <br />and; <br />WHEREAS, the Directors do not wish to deplete the financial resources of the <br />San Luis Valley Water Conservancy District in the acquisition of the subject water rights, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br />THE SAN LUIS VALLEY WATER CONSERVANCY DISTRICT, COLORA~O: <br />That the San Luis Valley Water Canservancy Distric~ make application ta the Water <br />Praject l.oan Program of the Colorado Water Conservation Board, to borrow Seven <br />Hundred and Twenty Thousand Dollars ($720,OOQ.00) at a Three and One Half Percent <br />(3.5%) annual interest rate, for a period of Thirty (34) years; <br />And, throughout the term of the loan, the San Luis Valley Water Conservancy District <br />offers the "Annual Fees" associated with its Agreement & Augmentation Certificates as <br />collateral #or the requested laan. This form of collateral is in accordance with CWCB's <br />Standard Loan Contract - Waiver #160 - Approved Navember 10, 2003, Section A. 8. <br />Pledge of Revenues. <br />Adopted this 19~" day of ,rune2008. _, <br />SAN LU1S VALLEY WATER CONSER~ <br />~ <br />BY: . ~` ' A <br />, resident <br />Resolution No. zaas - os <br />CWCB Loan <br />Page 1 of 7 <br />APPENDIX 3 <br />