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RESOLUTION 2014.11 <br /> A RESOLUTION APPROVING LOANS FROM THE COLORADO WATER <br /> CONSERVATION BOARD;AUTHORIZING THE FORM AND EXECUTION <br /> OF THE LOAN CONTRACTS, PROMISSORY NOTES TO EVIDENCE <br /> SUCH LOANS, AND SECURITY AGREEMENTS IN CONNECTION <br /> THEREWITH; AUTHORIZING THE EXECUTION AND DELIVERY OF <br /> DOCUMENTS RELATED THERETO AND PRESCRIBING OTHER <br /> DETAILS IN CONNECTION THEREWITH. <br /> WHEREAS, the Parker Water and Sanitation District, acting by and through its water <br /> enterprise(the"District"),in the County of Douglas and State of Colorado,is duly organized and existing under <br /> the Constitution and the laws of the State of Colorado; and <br /> WHEREAS,the members of the Board of Directors of the District(the"Board")have been duly <br /> elected, chosen and qualified; and <br /> WHEREAS,the District has previously determined that its water and wastewater system(the <br /> "System")constitutes an enterprise under Article X,Section 20 of the Colorado Constitution ("TABOR"); and <br /> WHEREAS, the Board has heretofore determined that in order for the District to reduce its <br /> dependence on non-renewable water sources,the interests of the District and the public interest and necessity <br /> demand and require that the District participate in the Water Infrastructure and Supply Efficiency Authority <br /> ("WISE Authority") project, which participation will include sharing in the costs with other WISE Authority <br /> members of the acquisition and construction of certain water infrastructure, as further detailed herein (the <br /> "Project"); and <br /> WHEREAS, the cost of the Project to the District will not exceed $17,310,000, including <br /> design, engineering, legal,financing and administrative costs relating thereto,and any other costs incidental <br /> thereto; and <br /> WHEREAS,the Board has determined that in order to finance the Project,it is necessary and <br /> advisable and in the best interests of the District to enter into four separate loan contracts (collectively, the <br /> "Loan Contracts") and four separate security agreements (collectively, the "Security Agreements") with the <br /> Colorado Water Conservation Board ("CWCB"), a body corporate and political subdivision of the State of <br /> Colorado,pursuant to which the CWCB will loan the District the following amounts,for the following purposes: <br /> (a)Contract No.C150410A,in an amount that will not exceed$4,426,830,for the District's share of the price of <br /> 1 <br /> APPENDIX 3 <br />