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RESOLUTION <br /> of the <br /> BOARD OF DIRECTORS <br /> of the <br /> HENRYLYN IRRIGATION DISTRICT <br /> WHEREAS, the Board of Directors of the Henrylyn Irrigation District ("District") at its <br /> regular monthly board meeting of December 4, 2007 canvassed all ballots cast in the District <br /> landowner's mail-in election for approval of the District's proposed loan contract with the <br /> Colorado Water Conservation Board (`CWCB") for a proposed loan in the amount of <br /> $2,1 84,327.00, or such actual amount, more or less, as needed to finance the project costs, <br /> including the CWCB loan origination fee of 1%, to rehabilitate and repair the District's Horse <br /> Creek and Prospect Reservoirs; <br /> WHEREAS, the Board of Directors hereby determines that the Board of Election <br /> correctly counted 234 ballots as properly and legally cast in favor of the District's approval of <br /> the proposed loan contract with CWCB and also correctly counted 27 ballots as properly and <br /> legally cast as against the District's approval of the proposed loan contract with CWCB. <br /> WHEREAS, the Board of Directors hereby concludes that 89.66% of the ballots cast in <br /> such mail-in election were in favor of the District's approval of the proposed loan contract with <br /> CWCB and that 10.34%of the ballots cast in such mail-in election were opposed to the District's <br /> approval of the proposed loan contract with CWCB; <br /> NOW THEREFORE, as a majority of the qualified, taxpaying and legal electors within <br /> the District voted at said landowner's mail-in election for the District's approval of the proposed <br /> loan contract with the CWCB, the Board of Directors hereby certifies the above results of said <br /> landowner's mail-in election and directs District staff to immediately take all such other actions <br /> and to execute such other documents as may be necessary to consummate and implement the <br /> proposed loan contract, as may be required by CWCB to complete the proposed loan contract <br /> transaction with CWCB, and to execute all documents as required by the proposed loan contract <br /> with CWCB, including, but not limited to, a Security Agreement and a Promissory Note. <br /> Done and signed at Hudson, Colorado nunc pro tunc this 4th day of December, 2007. <br /> Kenneth Bollers, President/Director <br /> /&- z,e;&Aed <br /> David Bell, Director <br /> Stanley R ingeric, irector <br />