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RESOLUTION OF THE BOARD OF DIRECTORS OF THE REPUBLICAN RIVER <br />WATER CONSERVATION DISTRICT, ACTING AS THE GOVERNING BODY OF <br />THE REPUBLICAN RIVER WATER CONSERVATION DISTRICT WATER <br />ACTIVITY ENTERPRISE <br />(Authorizing the Enterprise to Enter into and Comply with the Terms of a Contract with the <br />Colorado Water Conservation Board for a Loan in the Amount of $4.545 million for the North <br />Fork Water Rights Lease and Pledging to Impose and Collect Use Fees to Repay the Loan and <br />for Other Related Purposes) <br />RESOLUTION NO. 08-11 <br />RECITALS <br />WHEREAS, the Republican River Water Conservation District ( "District') was created <br />pursuant to § 37 -50- 103(1), C.R.S.; and <br />WHEREAS, the District was formed for the purpose of cooperating with and assisting the <br />State of Colorado to carry out its duty to comply with the limitations and duties imposed upon <br />the State by the Republican River Compact; and , <br />WHEREAS, pursuant to § 37- 50- 107(1)(k), C.R.S., the Distri� estab*ed the <br />Republican River Water Conservation District Water Activity Enterprige rise ") pursuant <br />to Article 45.1 of Title 37 of the Colorado Revised Statutes "for -tfle ` ppose of pursuing ... <br />water activities, including water acquisition or water project or, f*ility activities, ... "; and <br />WHEREAS, the Board of Directors of the District ( "Board ") is the governing body of the <br />Enterprise ( "Governing Body "); and <br />WHEREAS, a 20 -year lease of surface water rights that are decreed for diversion from <br />the North Fork of the Republican River, or tributaries of the North Fork ( "North Fork Water <br />Rights Lease ") will assist the State of Colorado to comply with the Republican River Compact <br />and will reduce the amount that will need to be pumped from Compact Compliance Wells for the <br />Republican River Compact Compliance Pipeline during the 20 -year term of the lease and will <br />APPENDIX 3 <br />