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RESOLUTION NO. 2002- A / <br />A RESOLUTION APPROVING A LOAN FROM THE <br />COLORADO WATER CONSERVATION BOARD IN THE <br />PRINCIPAL AMOUNT OF $15,000,000; AUTHORIZING THE <br />FORM AND EXECUTION OF THE LOAN CONTRACT, A <br />PROMISSORY NOTE TO EVIDENCE SUCH LOAN, AND A <br />SECURITY AGREEMENT IN CONNECTION THEREWITH; <br />AUTHORIZING THE EXECUTION AND DELIVERY OF <br />DOCUMENTS RELATED THERETO AND PRESCRIBING <br />OTHER DETAILS IN CONNECTION THEREWITH. <br />WHEREAS, the Parker Water and Sanitation District acting by and through its <br />water activity enterprise and its sanitary sewer activity enterprise (the "District "), in the County <br />of Douglas and State of Colorado, is duly organized and existing under the Constitution and the <br />laws 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 />WHEREAS, the Board has heretofore <br />and the public interest and necessity demand a <br />completion of certain water facilities, at a cost o <br />engineering, legal, financing and administrative <br />incidental thereto (the "Project "); and <br />WHEREAS, the Board has determined <br />interest of the District <br />isition, construction, and <br />03,000,000, including design, <br />thereto, and any other costs <br />in order to finance a portion of the <br />Project, it is necessary and advisable and in the best interests of the District to enter into a loan <br />contract (the "Loan Contract ") with the Department of Natural Resources, Colorado Water <br />Conservation Board ( "CWCB "), pursuant to which CWCB shall loan the District an amount of <br />$15,000,000 for such purposes; and <br />WHEREAS, the City's repayment obligations under the Loan Contract shall be <br />evidenced by a promissory note (the "Promissory Note ") to be issued by the City to the CWCB; <br />and <br />WHEREAS, the Promissory Note, the Loan Contract and the security agreement <br />executed in connection with the Loan Contract (the "Security Agreement" and collectively with <br />Appendix 3 to Loan Contract C150090 <br />