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of the Enterprise, in accordance with the pledge of revenues provisions of the Original Contract, as <br />amended by the Contract Amendment. <br />5. The Board finds and determines, pursuant to §37 -45- 139(1), C.R.S., that the annual <br />obligation created by the loan from CWCB to the Enterprise will not require a greater annual <br />expenditure than the annual income and revenue of the District and Enterprise is estimated to permit. <br />6. The Enterprise was established by resolution of the Board of Directors of the District <br />dated September 14, 1994. After the Contract Amendment is fully executed by all parties to it, said <br />resolution shall be irrevocable for the duration of the Original Contract, as amended by the Contract <br />Amendment, and the Enterprise shall remain in existence and shall not be terminated prior to full <br />repayment of the loan. <br />7. Should any part or provision of this RqWft ` 'udged unenforceable or invalid, <br />such judgment shall not affect, impair, or invalidat :ikidrt '' g provisions of this Resolution, it <br />being the intention that the various provisions her e severa„c <br />8. After the Contract Amendment is 14' 11 . ex at } i parties to it, this Resolution <br />shall be irrepealable for the term of the Original Coin i t, 'as-amended by the Contract Amendment. <br />The foregoing Resolution was duly adopted by the Board of Directors of the District and the <br />Enterprise on August 9, 2000. <br />UTE WATER CONSERVANCY DISTRICT <br />and the <br />UTE WATER ACTIVITY ENTERPRISE <br />ATTEST: <br />Santo Bertuzzi, S469tary Dorothy Hos 4-diresident <br />H: \MAH \UTE \cwcb -res -$ I OM.wpd -3- April 12, 2000 <br />