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FE�-19-z009 09:13 FROM:HERDLEY IHX StKVl�t 1CyfbJ�4� iu �13b3�7���f� r.��c <br />RE$OLUTION # 1-2009 <br />A RE30LUTION AMENDING RESOLUTION �3-2008 AND AUTHORIZING <br />THE TOWN OF HILLR08E, C�LORADO. A COLORAD4 MUNICIPAL <br />CORPORATION ACTING BY AND THROUGH AND FOR THE BENEFIT �F <br />ITS WATER UTILITY ENTERPRISE TO ENTER INTO A LOAN CONTRACT <br />WITH THE COLORADO WATER CONSERVATION BOARD TO PURCHASE <br />WATER RIGHT3 FOR USE IN WELL AUGMENTATION PLAN3 <br />BE [T RESOLVED BY THE TOWN OF �[LLLROSE, COLORADO, A COLORADO <br />MUNICIPAL CORPORATIOIV ACTING BY AND THROUGH AND FOR TE{E <br />BENEFIT OF ITS WATER UTILITY ENTERPRISE (ENTERPRISE): <br />1. Tawn of Hillrose, Colorado, a Colorado municipal corporatian acting by <br />and through and for the benefit of its Water Utility Enterprise <br />(Enterprise) shall enter into and comply with the terms of a Loan <br />Contract with the Colorado Water Conservation Board for a loan in the <br />amount of $49,995.40, or such actual amount, more or less, as needed <br />to finance the purchase of water rights for use in the Enterprise's well <br />augmentation plans. <br />2. The Enterprise, acting pursuant to Ordinance 1Vos. 53, 97, and 105 and <br />Resolution No. 9-2004, and any other ordinances and resolutions that <br />may be enacted as necessary, shall levy and collect water revenues from <br />all tap holders in an amount sufficient to pay the annual amounts due <br />under the Loan Contract. <br />3. The Enterprise may pledge water revenues and the Enterprise's right to <br />receive water revenues for repayment of the Loan. The pledged revenues <br />may be placed in a special account separate and apart from other <br />Enterprise revenues. <br />4. The Enterprise shall make the annual payments required by the <br />Promissory Note and make annual deposits to a debt service fund. <br />5. The Mayor and the Town Clerk of the Town of Hillrose and the �hairman <br />��?c� the Secretary of the Town of Hillrose Water Enterprise, acting in <br />��e official capacities, are hereby authorized to execute all documents <br />as required by the Loan Contract, including, but not limited to, a <br />Security Agreement and a Promissory note. � <br />6. The Mayor and the Town Clerk of the Town of Hillrose and the Cha.irman <br />� the Secretary of the Town of Hillrose Water Enterprise, acting in <br />'� official capacities, are further authorized to take such other actions <br />and to execute such other documents as may be necessary to <br />consummate and to implement the Loan. <br />RESOLUTION PASSED, APPROVED AND ADOPTED THIS Sth DAY OF <br />JANUARY 2�09, t ��o���a roll call vote of: <br />,.�'°, { , i•.. <br />;' , <br />Ayes: ,� .: ` ^,': <br />