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"Loan Contracts" means, collectively, Loan Contract No. C150404A, Loan Contract No. <br /> C150404B and Loan Contract No. C150404C. "Loan Contract" refers to each of the foregoing <br /> individually, as the context requires. <br /> "Loan Repayment Account" means a special account of the Water Activity Enterprise <br /> designated as the "CWCB Repayment Account," created by this Resolution for the purpose of <br /> segregating the Pledged Revenue to pay the principal of and interest due on the Promissory <br /> Notes. <br /> "Operation and Maintenance Expenses" means all reasonable and necessary current <br /> expenses of the Water Activity Enterprise, paid or accrued, for operating, maintaining, and <br /> repairing the water supply, treatment and distribution system, including, without limitation, all <br /> legal, accounting, and administrative expenses of the District. <br /> "Resolution"means this Resolution which authorizes the execution of the Loan Contracts <br /> and the issuance of the Promissory Notes, including any amendments properly made hereto. <br /> "Payment Date" means the date established pursuant to the applicable Loan Contract for <br /> the annual payment of the principal of and interest on the related Promissory Note, as set forth <br /> therein. <br /> "Pledged Revenue" means Gross Revenue (subject to increase in accordance with the <br /> Rate covenant as defined in Section 6(a) herein) after deducting Operation and Maintenance <br /> Expenses. <br /> "Project" means the Chatfield Reallocation Project, as more fully described in the Water <br /> Storage Agreement by and between the US Army and the CDNR. <br /> "Promissory Note" means, in connection with a Loan Contract, the Promissory Note <br /> evidencing the District's repayment obligation from the date of substantial completion of the <br /> related portion of the Project (as described in each Loan Contract), as included as Appendix 2 to <br /> each Loan Contract. <br /> "Promissory Notes" means, collectively, the Promissory Notes executed in connection <br /> with the Loan Contracts. <br /> "Required Reserve Amount"means, with respect to each Loan Contract,the amount equal <br /> to an annual loan payment thereon, as shown in the Promissory Note relating thereto. <br /> "Reserve Account" means a special account of the Water Activity Enterprise designated <br /> as the "CWCB Reserve Account," created by this Resolution for the purpose of accumulating <br /> and accounting for the Required Reserve Amount for each Loan Contract. <br /> "State"means the State of Colorado. <br /> "Supplemental Public Securities Act"means Part 2 of Article 57 of Title 11, C.R.S. <br /> "Water Activity Law"means Title 37, Article 45.1, C.R.S. <br /> {00465252.DOC/6)corrected 4 <br /> 4831-3765-6607.4 <br />