Laserfiche WebLink
• <br />❑ <br />NOW, THEREFORE, BE IT RESOLVED BY THE DISTRICT, AS <br />FOLLOWS: <br />Loan Contract Amendment No. 1("Loan Contract") between the CWCB, <br />District and the Enterprise, a copy of which is attached and incorporated <br />herein as Exhibit A, and which provides for a loan increase by the CWCB <br />to the Enterprise in an amount of $485,103.00 for rehabilitation of the <br />District's water system infrastructure, is hereby endorsed, authorized and <br />approved. <br />2. Consistent with the terms of the Loan Contract, the Enterprise shall <br />establish, levy and collect water user rates, charges and fees in amounts <br />sufficient to allow the Enterprise to repay the loan increase in a full and <br />timely fashion. <br />3. The District endorses the pledging of revenues by the Enterprise derived <br />from water user rates, charges and fees to repay the CWCB loan, and to <br />pledge said water user rates, charges and fees as collateral for the loan <br />increase to execute documents necessary to convey a security interest in <br />said property to the CWCB. <br />4. Consistent with the terms of the Loan Contract, the District shall not <br />endeavor to terminate or dissolve the Enterprise, nor adversely withdraw <br />or deplete its assets, nor hereafter cause it to incur additional debt except <br />in accordance with requirements of the Loan Contract, nor otherwise <br />adversely affect the ability of the Enterprise to perform the terms of the <br />Loan Contract during the term of the Loan Contract. <br />The District shall take such other actions and execute such other <br />documents as may be necessary to consummate and implement the <br />amended loan between the CWCB and the enterprise. <br />RESOLVED, APPROVED AND ADOPTED this 11`� day of December, 2008. <br />SILT WATER CONSERVANCY DISTRICT <br />� �, <br />By i;� c� Z�..�n� %� I� r�z.. �_, 6�—. <br />Walter M. George, Vice-Pres�dent <br />Atte t: <br />Pearl Knight, Se ret <br />