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WHEREAS, the Board has determined that in order to finance the Project, it is <br /> necessary and advisable and in the best interests of the District to enter into four separate loan <br /> contracts(collectively,the"Loan Contracts")and four separate security agreements(collectively,the <br /> "Security Agreements")with the Colorado Water Conservation Board("CWCB"),a body corporate <br /> and political subdivision of the State of Colorado,pursuant to which the CWCB will loan the District <br /> the following amounts, for the following purposes: (a) Contract No. C150408A, in an amount that <br /> will not exceed$381,780, for the District's share of the price of a portion of the East Cherry Creek <br /> Valley Water and Sanitation District's Western Pipeline(the"ECCV Pipeline"),to be purchased by <br /> the WISE Authority; (b) Contract No. C150408B, in an amount that will not exceed$363,600, for <br /> the District's share of the cost of the WISE Authority's use of a pipeline that will connect Denver <br /> Water's treated distribution system near Denver International Airport and Aurora's Prairie Waters <br /> pipeline (the "DIA Connection"); (c) Contract No. C 150408C, in an amount that will not exceed <br /> $2,636,100,for the District's share of the cost of certain Phase 1 Infrastructure,to be constructed by <br /> the WISE Authority;and(d)Contract No. C 15 0408D,in an amount that will not exceed$1,127,160, <br /> for the District's share of the cost of certain Phase 2 Infrastructure, to be constructed by the WISE <br /> Authority(collectively,items(a)through(d)shall be referred to as the"Loans");which Loans in the <br /> aggregate shall not exceed the amount of$4,508,640; and <br /> WHEREAS,the District's repayment obligations under the Loan Contracts shall be <br /> evidenced by four separate promissory notes (collectively,the"Promissory Notes")to be executed <br /> and delivered by the District to the CWCB; and <br /> WHEREAS,the Promissory Notes,the Loan Contracts and the Security Agreements <br /> (collectively, the "Financing Documents") may be approved by the Board acting in its enterprise <br /> capacity without an election pursuant to C.R.S. §§ 37-45.1-104 to106; and <br /> WHEREAS, the Financing Documents shall be revenue obligations of the District, <br /> payable from the Pledged Revenues (as defined in the Financing Documents and herein); and <br /> WHEREAS, there have been presented to the Board the forms of the Financing <br /> Documents; and <br /> WHEREAS,the Board desires to approve the forms of the Financing Documents and <br /> authorize the execution thereof <br /> 2 <br />