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RESOLUTION NO. 2015-9-1 <br /> THUNDERBIRD WATER AND SANITATION DISTRICT <br /> DOUGLAS COUNTY, COLORADO <br /> A RESOLUTION OF THE THUNDERBIRD WATER AND SANITATION DISTRICT <br /> AUTHORIZING THE FORM AND EXECUTION OF LOAN CONTRACT <br /> AMENDMENT NO. 1 TO THAT CERTAIN ORIGINAL LOAN CONTRACT NO. <br /> C150320 AND AUTHORIZING THE FORM AND EXECUTION OF AN AMENDMENT <br /> TO THE ORIGINAL PROMISSORY NOTICE EXECUTED IN CONNECTION WITH <br /> SAID ORIGINAL LOAN CONTRACT <br /> WHEREAS, the Thunderbird Water and Sanitation District("District"), Douglas <br /> County, Colorado, is a quasi-municipal corporation duly organized and existing as a water and <br /> sanitation district under the constitution and laws of the State of Colorado, including particularly <br /> Title 32 of the Colorado Revised Statutes (unless otherwise indicated, capitalized terms used in <br /> this preamble shall have the meanings set forth in Section 1 of this Resolution); and <br /> WHEREAS, the District is authorized by Title 32, Article 1, PartS 10 and 11 to borrow <br /> money and incur general obligation indebtedness and evidence the same by bonds, certificates, <br /> warrants, notes, and debentures; and <br /> WHEREAS, at an election of the qualified electors of the District, duly called and held <br /> on Tuesday,November 2, 2010 (the "2010 Election"), in accordance with law and pursuant to <br /> due notice, a majority of those qualified to vote and voting at the 2010 Election voted in favor of <br /> inter alia, the issuance of general obligation indebtedness and the imposition of taxes for the <br /> payment thereof, for the purpose of acquiring certain ground water rights, the question thereto be <br /> as follows: <br /> Thunderbird Water and Sanitation District Ballot Issue 5A: <br /> Shall Thunderbird Water and Sanitation District debt be increased up to $375,000, <br /> with a maximum repayment cost of$750,000 and shall District taxes be increased <br /> up to $35,000 annually, for the purpose of purchasing or acquiring ground water <br /> and ground water rights by the issuance of general obligation bonds, loan <br /> agreements, or other forms of indebtedness, which debt shall bear interest at a <br /> maximum net effective interest rate not to exceed 6.5%per annum and to be <br /> issued, dated and sold at such time or times, at such prices (at, above, or below <br /> par) and in such manner and containing such terms, not inconsistent herewith, as <br /> the Board of Directors may determine; and shall ad valorem property taxes be <br /> levied in any year, without limitation as to rate or amount, to pay the principal of, <br /> premium, if any, and interest on such bonds as the same shall become due; and <br /> shall any earnings from the investment of the proceeds of such taxes and bonds <br /> (regardless of amount) constitute a voter approved revenue changes? <br /> {220091.DOC/} <br />