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RESOLUTION OF THE <br />BOARD OF DIRECTORS OF THE <br />COON CREEK RESERVOIR & DITCH COMPANY <br />A special meeting of the Board of Detors ,..6f the Coon <br />Creek Reservoir & Ditch Company was held <br />All directors were present, and notice of the meting was <br />waived. Following full discussion, the Board of Directors of <br />the Coon Creek Reservoir & Ditch Company adopted the following <br />resolutions: <br />BE IT RESOLVED that the Board of Directors hereby authorizes <br />the Coon Creek Reservoir & Ditch Company to contract with the <br />Department of Natural Resources, Colorado Water Conservation <br />Board for a loan in the amount of $55,000.00 pursuant to that <br />certain contract previously approved by the special meeting of <br />the shareholders of the corporation held July 15, 1989. <br />BE IT FURTHER RESOLVED that the President and Secretary are <br />hereby authorized to pay said indebtedness in accordance with <br />its terms. <br />BE IT FURTHER RESOLVED that the corporation is hereby <br />authorized: To enter into said contract; to levy assessments <br />sufficient to pay off said contract loan pursuant to its terms <br />and to discharge said lawful indebtedness; to set aside said <br />assessment revenue in a special fund separate and apart from <br />other contract or revenues to assure repayment.of said revenue <br />to the State; and to sign a security interest in such assessment <br />revenues in favor of the State to secure repayment. <br />These resolutions are executed in five original copies this <br />day of September, 1989, by a unanimous vote at a special <br />me ting of the Board of Directors of the Coon Creek Reservoir & <br />Ditch Company. <br />President <br />ATTEST: <br />U \ Za. "A <br />Secretary <br />EXHIBIT A <br />