C150324 Contract - Laserfiche WebLink

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Note (the "Note ") dated as of the same date from the District to the CWCB evidencing the loan (the "Loan ") made pursuant to the Loan Contract; and WHEREAS, the Loan Contract shall create an irrevocable lien on the net revenue of that part of the System comprising the Project, second in priority only to the Lease of Power Privilege between the United States of America and the District for the Development of Hydroelectric Power on the Ridgway Dam dated as of February 6, 2012 (the "LOPP "), and an irrevocable first lien on the net revenue of the System other than the Project, on parity with any additional Parity Lien Bonds (as defined herein) issued by the District; and WHEREAS, none of the members of the Board have any potential conflicting interests in connection with authorization for execution of the Loan Contract, or the issuance and delivery of the Promissory Note, or the use of the proceeds thereof; and WHEREAS, there has been presented to this meeting of the Board the form of the Loan Contract and the Board desires to authorize the execution of the document, the issuance and delivery of the Promissory Note, and the execution of any additional documentation which may be related to such financing; THEREFORE, be it resolved by the Board of Directors of the Tri- County Water Conservancy District, acting as the governing body of the District's Water Activity Enterprise: Section 1. Definitions. As used herein, the following capitalized terms shall have the respective meanings set forth below, unless the context indicates otherwise. "Board' means the Board of Directors of the District, acting as the governing body of the Water Activity Enterprise of the District. "Capital Improvements" means the acquisition of land, easements, facilities, and equipment (other than ordinary repairs and replacements), and the design, construction or reconstruction of improvements, betterments, and extensions, for use by or in connection with the System. "C.R.S." means the Colorado Revised Statutes, as amended and supplemented as of the date hereof. "CWCB" means the Colorado Water Conservation Board and any successor thereto. "CWRPDA" means the Colorado Water Resources and Power Development Authority and any successor thereto. "District" means the Tri- County Water Conservancy District. "Financing Documents" means, collectively, the Loan Contract and the Note. "Gross Revenue" means all income and revenues directly or indirectly derived by the District from the operation and use of the System, or any part thereof, including without limitation, any rates, fees, plant investment fees, standby charges, availability fees, tolls, and charges for the services furnished by, the use of, or the availability of the System, and all income Appendix 3 to Loan Contract C150324 4814 -5244 -3407. 22