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G. CWCB, the District and the Enterprise desire to amend the Original Contract to <br />document the additional loan of $10,000,000.00, resulting in an authorized loan amount under the <br />Original Contract in the total amount of $17,000,000.00, and to update certain clauses of the Original <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. 1 between CWCB <br />and the District and the Enterprise, which amends the Original Contract, and which relates to the <br />loan of the additional amount of $10,000,000.00 to the Enterprise for the Project and the updating <br />of certain clauses of the Original Contract (the "Contract Amendment "). Attached to the Contract <br />Amendment are forms of a Promissory Note (the "Promissory Note ") and an Amended Security <br />Agreement (the "Amended Security Agreement "). The Original Contract, Contract Amendment, <br />the Promissory Note, and the Amended Security Agreement may hereafter be collectively referred <br />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 Secr of the Board to execute the Contract <br />Amendment on behalf of the District and the Ente oard further authorizes the Enterprise <br />to enter into the Promissory Note and Amen_ greem nt, and authorizes the President <br />and the Secretary of the Board to execute suc�alcuments�!,belfpf the Enterprise. <br />3. Once all of the Project Loarrpoo uir is ke been executed by the President and <br />Secretary of the Board, the officers and employees of 6e District and Enterprise shall be authorized <br />to and are directed to take all actions required of and to comply with and perform all obligations of <br />the District and the Enterprise, as set forth in the Project Loan Documents. <br />4. During the term of the loan evidenced by the Project Loan Documents, the Enterprise <br />is further authorized to: <br />A. Establish and collect water user charges, rates and fees ( "water system <br />revenues ") in amounts sufficient to repay the loan evidenced and secured by the Project Loan <br />Documents; <br />B. Make the annual payments in accordance with the Promissory Note; <br />C. Pledge water system revenues to repay the loan evidenced and secured by the <br />Project Loan Documents, and to execute and deliver to CWCB the Amended Security Agreement; <br />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 -$ I OM.wpd -2- April 12, 2000 <br />