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C150312 contract docs
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Last modified
6/9/2011 10:21:06 AM
Creation date
12/28/2010 10:07:35 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C150312
Contractor Name
Swan's Nest Metropolitan District - Water Enterprise
Contract Type
Loan
Water District
36
County
Summit
Loan Projects - Doc Type
Contract Documents
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• • <br />RESOLUTION <br />A RESOLUTION APPROVING A LOAN FROM THE COLORADO WATER <br />CONSERVATION BOARD; AUTHORIZING THE FORM AND EXECUTION OF <br />THE LOAN CONTRACT, SECURITY �GREEMENT AND A� PROMISSORY <br />NOTE TO EVIDENCE SUCH LOAN; Ai1THORIZING THE EXECUTION AND <br />DELIVERY OF DOCUMENTS RELATED THERETO; AND PRESCRIBING <br />OTHER DETAILS IN CONNECTION THEREWITH. <br />WHEREAS, Swan's Nest Metropolitan District, Summit County, Colorado (the <br />"District") is a duly organized and existing quasi-municipal corporation and political <br />subdivision of the State of Colorado; and <br />WHEREAS, the members of the Board of Directors of the District (the "Board") <br />have been duly elected, chosen and qualified; and <br />WI3EREAS, the District has heretofore determined and undertaken to combine, <br />operate, and maintain its water facilities as a public utility and income-producing project <br />(the "Enterprise"); and <br />WHEREAS, the District has determined that the Enterprise is an enterprise within <br />the meaning of Article X, Section 20 of the Colorado Constitution; and <br />WHEREAS, the Board has heretofore determined that the interest of the District <br />and the public interest and necessity demand and require the District to acquire certain <br />water rights (the "Project"), and to finance a portion of the costs of the Project in an <br />amount not to exceed $155,000; and <br />WHEREAS, the District has made application to the Colorado Water Conservation <br />Board, a body corporate and political subdivision of the State ("CWCB") through its <br />Construction Fund, for a loan; and <br />WHEREAS, the District has determined that in order to finance the cost of the <br />Project, it is necessary and advisable and in the best interests of the District for the <br />District, acting by and through its enterprise, to enter into a Loan Contract (the "Loan <br />Document") with CWCB, pursuant to which CWCB shall loan the District an amount of <br />not to exceed $155,000 (the "Loan") for such purposes; and <br />WHEREAS, the repayment obligations under the Loan Document shall be <br />evidenced by a promissory note (the "Note") to be issued by the District to CWCB and <br />secured by a Security Agreement (the "Security Agreement"); and <br />{oo�9sosz.��oc i} <br />Appendix 3 to Loan Contract C150312 <br />
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