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G. CWCB, the District and the Enterprise desire to amend the 1995 Contract to <br />document the additional loan of $2,600,000.00, resulting in an authorized loan amount under the <br />1995 Contract in the total amount of $10,137,500.00, and to update certain clauses of the 1995 <br />Contract. <br />NOW, THEREFORE, THE BOARD OF THE DISTRICT AND OF THE ENTERPRISE <br />RESOLVE AS FOLLOWS: <br />1. Attached hereto as Exhibit 1 is a copy of Contract Amendment No. 3 between CWCB <br />and the District and the Enterprise, which amends the 1995 Contract, and which relates to the loan <br />of the additional amount of $2,600,000.00 to the Enterprise for the Project and the updating of <br />certain clauses of the 1995 Contract (the "Contract Amendment "). Attached to the Contract <br />Amendment are forms of a Promissory Note (the "Promissory Note ") and a Security Agreement (the <br />"Security Agreement'). The 1995 Contract, Contract Amendment, the Promissory Note, and the <br />Security Agreement may hereafter be collectively referred to as the "Project Loan Documents ". <br />2. The Board hereby authorizes the District and the Enterprise to enter into the Contract <br />Amendment, and authorizes the President and the Secretary of the Board to execute the Contract <br />Amendment on behalf of the District and the Enterprise. The Board further authorizes the Enterprise <br />to enter into the Promissory Note and Security Agreement, and authorizes the President and the <br />Secretary of the Board to execute such documents on behalf of the Enterprise. <br />3. Once all of the Project Lo ents ave been executed by the President and <br />Secretary of the Board, the officers and em 0y''` oft 'ct and Enterprise shall be authorized <br />to and are directed to take all actions ran o ly with and perform all obligations of <br />the District and the Enterprise, as set,thn thoj oan Documents. <br />4. During the term of the loan pylderi6erd by the Project Loan Documents, the Enterprise <br />is further authorized to:`" }= <br />A. Establish and collect water user charges, rates and fees in amounts sufficient <br />to repay the loan evidenced and secured by the Project Loan Documents; <br />B. Make the annual payments in accordance with the Promissory Note; <br />C. Pledge revenues from water user charges, rates and fees ( "water system <br />revenues ") to repay the loan evidenced and secured by the Project Loan Documents, and to execute <br />and deliver to CWCB the Security Agreement; and <br />D. Set aside sufficient water system revenues each year to pay the annual <br />installment due on the Promissory Note in a special account, separate and apart from other revenues <br />H:\MAH\UTE \cwcb- res -S2.6M —2— April 12.2000 <br />