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4. The Water Utility Enterprise is to make the annual payments required by the Loan <br /> Contract and related Promissory Note,and to make annual deposits to a debt service <br /> reserve fund as required by the Loan Contract. <br /> 5. The Water Utility Enterprise is authorized to pledge its revenues,backed by CWCB's <br /> customary rate covenant and annual financial reporting,as collateral for the loan and to <br /> execute all documents,including a Promissory Note and Security Agreement,necessary <br /> to convey a security interest in said property to the CWCB. <br /> 6. The Town Manager, Kelly E.Arnold,is authorized to execute all documents as required <br /> by the Loan Contract,including,but not limited to,a Promissory Note and Security <br /> Agreement. <br /> 7. The Town Manager, Kelly E.Arnold,is authorized to take such other actions and to <br /> execute such other documents as may be necessary to consummate and implement the <br /> loan. <br /> Upon motion duly made,seconded and carried,the foregoing Resolution was adopted this 9th day <br /> of December, 2013. <br /> TOWN 0 Ii I SOR,COLORADO <br /> BI'�� _/ <br /> Y <br /> John S.Vazq or <br /> A rfil ST: <br /> FA VINQSON <br /> Patti Garcia, Clerk yk <br /> * " col is <br /> * .,, <br /> Page 2 of 2 <br />