C153667 PIF Contract

• Contract/PO #: C153667
• Contractor Name: Wamsley Cattle Company
• Contract Type: Loan
• Water District: 47
• County: Jackson
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

STOCKHOLDERS RESOLUTION
Wamsley Cattle Company, Inc.
WHEREAS, Wamsley Cattle Company, Inc. (the Corporation)
desires to borrow funds from the State of Colorado in order to
make repairs to the Pole Mountain Reservoir which reservoir is
located on real property located in Jackson County, Colorado,
owned by the Corporation.
WHEREAS, the Corporation has been advised that in order to
obtain a loan from the State of Colorado it will be necessary to
pledge security in case anticipated revenues are insufficient to
comply with the repayment schedule.
WHEREAS, it is the purpose of this meeting of stockholders
to approve the corporations obligations, as a contractor, to
the State of Colorado;
WHEREFORE, IT IS HEREBY RESOLVED THAT:
1. The Corporation, as a contractor, is hereby authorized to
borrow funds from the State of Colorado for purposes of making
repairs to and rehabilitating the Pole Mountain Reservoir.
2. The Corporation is authorized to pledge revenues
sufficient to assure repayment of the loan obtained from the
State of Colorado. Ank
3. The Corporation is authorized to ple al
property which it owns as a form of securit !�ta*
t of
Colorado.
4. The Corporation acknowledges that sp ci ssments
or additional fees may be necessary in cas r nues are
insufficient to make payments pursuant to the 1 reement.
5. The officers of the Corporation are aut rized to sign a
security agreement in favor of the State of Colorado in order to
secure repayment of the obligation.
6. The President and Vice - President of the Corporation are
authorized to sign any loan documents reasonably necessary in
order to effectuate the loan agreement between the State of
Co orado and the corporation.
Donald W. Wamsley, Sharehol Robert B�. Wamsley, Shareholder
Dated :1 Z 7 Dated:
Richard E. Wamsley, Sharehold
Dated:
EXHIBIT "A"