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UW -oo- 07 <br />RESOLUTION <br />(CWCB - $10,000,000 Contract Amendment) <br />The Board of Directors ( "Board ") of the Ute Water Conservancy District ( "District ") and of <br />the Ute Water Activity Enterprise ( "Enterprise "), at a regular meeting held on August 9, 2000, adopts <br />the following Resolution: <br />RECITALS <br />A. The District is a water conservancy district in the State of Colorado. It has <br />established and it owns the Enterprise, which is a water activity enterprise as defined by §37 -45.1- <br />102(4), C.R.S., and which is an enterprise for purposes of Article X, Section 20 of the Colorado <br />Constitution. <br />B. The District is the owner of a pipeline which runs from its sources of water supply <br />in the Plateau Creek Basin to its water treatment plant near Palisade ( "the Plateau Creek Pipeline "). <br />The Plateau Creek Pipeline is used to transport raw water from the sources of supply to the District's <br />water treatment plant for treatment and subsequent distribution to customers of the District and <br />Enterprise. The District has owned and operated the Plateau Creek Pipeline for many years. <br />C. The population within the District is ex d' demand for water to serve <br />the public is increasing. In order to provide an adequat j to meet the demands of the <br />customers of the District and the Enterprise, and to impre is ility of the water system of the <br />District and the Enterprise, the District and Enterprise Ma a is necessary to upgrade <br />and replace the Plateau Creek Pipeline. Without sut 1 ad d e lao n t, the Plateau Creek <br />Pipeline will soon be inadequate to serve the needs e plic Tierefore, the District and the <br />Enterprise have determined that it is necessary to upgrade and replace the Plateau Creek Pipeline in <br />order to fulfill the needs of the District and Enterprise and their customers. <br />D. Thus, the Board has previously determined that the interest of the District and the <br />Enterprise, and the public interest and necessity, demand that the Plateau Creek Pipeline be upgraded <br />and replaced and that provision be made for paying the cost of such replacement and upgrading. <br />E. The State of Colorado for the use and benefit ofthe Department ofNatural Resources, <br />Colorado Water Conservation Board ( "CWCB "), and the District and the Enterprise entered into a <br />contract dated April 12, 2000, Contract Encumbrance No. C150026 (the "Original Contract "). <br />Under the Original Contract, CWCB agreed to loan money to the Enterprise in the amount of <br />$7,000,000.00 for the purpose of partially financing the design and construction of the upgrading <br />and replacement of the Plateau Creek Pipeline (the "Project "). <br />F. The Enterprise desires to obtain an additional loan from CWCB for the Project in the <br />amount of $10,000,000, and CWCB has been authorized by the Colorado General Assembly to loan <br />such additional amount to the Enterprise from the Perpetual Base Account of the Severance Tax <br />Trust Fund for the Project. <br />Attachment 1 to Contract C150026 Amendment No. 1 <br />