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on behalf of and for the Enterprise, are hereby authorized to review and <br /> revise, negotiate, enter into, execute, and deliver a Loan Contract, <br /> Promissory Note, and Security Agreement ("Contract") with the Colorado <br /> Water Conservation Board in an amount of$3,099,690 payable over 30years <br /> at an interest rate of 3.25%. <br /> 2. The Enterprise is authorized and directed to levy and collect water activity <br /> enterprise revenues in an amount sufficient to pay the annual amounts due <br /> under the Loan Contract and to pledge said revenues and the Enterprise's <br /> right to receive said revenues for repayment of the loan approved herein. <br /> 3. The Enterprise shall place said pledged revenues in the Water Revenue Fund <br /> established pursuant to the Board Resolution 1/16-1 <br /> 4. The Enterprise shall make the annual payments required by the Loan <br /> Contract and related Promissory Note, and to make annual deposits to a debt <br /> service reserve fund as required by the Loan Contract. <br /> 5. The District agrees that upon execution and delivery of the Contract, it will <br /> perform and observe all of the contractual terms, conditions and obligations <br /> contained therein. and <br /> The motion to adopt Resolution 1/16-2 was made by SN y n c- <br /> GV Ev'i Av s seconded the motion to adopt Resolution 1/16-2. <br /> After discussion, the motion was put to a vote and carried on the following <br /> recorded vote: <br /> Those voting AYE: <br /> (OAP , <br /> A I 10 IP <br /> /lir , ,, <br /> APPENDIX 4 <br /> Page 2 of 3 <br />