C153723 PIF Contract - Laserfiche WebLink

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RESOLUTION OF ORCHARD MESA IRRIGATION DISTRICT The undersigned, being a majority of the directors of the Orchard Mesa Irrigation District ( "OMID ") at a special board meeting held October 29, 1996, at which a quorum of directors is present, consent to, adopt and vote in favor of the following resolution: RECITALS A. OMID has determined that it will benefit landowners within its service area to place the Mutual Mesa Lateral section of its delivery system, which is currently open ditch, in closed pipe (referred to below as the "Mutual Mesa Project "). B. By Resolution of this Board dated October 3, 1996, OMID formed the Mutual Mesa Lateral Enterprise ( "MMLE "), a water activity enterprise as defined at C.R.S. §§ 37 -45.1- 101 et seq., to undertake the Mutual Mesa Project. C. The Colorado Water Conservation Board (" WCB ") has agreed to loan MMLE a portion of the funds, up to $871,800, necessary to and, Mutual Mesa Project, subject to the terms and conditions of a Loan Contract & Pron so to byAld between the State of Colorado, OMID, and MMLE (the "Loan Cont this Resolution and incorporated here by referee Loan Contract imposes certain duties and obligati D. OMID and MMLE have agreed will undertake the Mutual Mesa Project on OMI , co, pf which is attached to iWwill be loaned to OMID, the and conditions under which MMLE s behalf, and have reduced that understanding to a written contract (the "Project Agreement "), an unsigned copy of which is attached to this Resolution and incorporated here by reference. E. After an open bid process, OMID has negotiated an agreement with Mendez Construction to perform necessary construction on the Mutual Mesa Project (the "Contractor Agreement "), a copy of which is attached to this Resolution and incorporated here by reference. Because MMLE has agreed to undertake the Mutual Mesa Project and retain all contractors necessary to construct the Mutual Mesa Project, OMID desires to assign all of its rights to enter into and perform the Contractor Agreement to MMLE. F. Pursuant to the Loan Contract, MMLE must establish a Certificate of Deposit account in the amount of $50,370.02 and assign the Certificate of Deposit to the State of Colorado. Pursuant to the Project Agreement, as additional compensation for the duties and obligations undertaken by MMLE pursuant to that agreement, OMID is required to loan MMLE the amount necessary to establish the required Certificate of Deposit.