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', • i <br /> (DRAFT RESOLUTION) <br /> s <br /> RESOLUTION OF THE SHAREHOLDERS <br /> OF THE LOLOFF LATERAL DITCH COMPANY <br /> Concerninga amendment of the contract dated November 23, 1993t n ` f ateral <br /> Ditch Comp•ny (hereinafter referred to as COMPANY) and tate of •j- ater <br /> Conservation,'' Board (hereafter referred to as the STATE), wh ' e '�.•unt bo Owed is <br /> increased by '$12,000 from $71 ,500 to $83,500. The follows sol = adopted <br /> by the sh eholders of the Loloff Lateral Ditch Company . - in. '.held <br /> 41' , 1995, at Kersey, Colorado, and these resolutions ar- . -is .'a ble <br /> during the lif of the loan. <br /> a. RESOLVED, that the shareholders hereby authorizes the COMPANY to <br /> contract for this additional loan debt, and authorizes the President and the <br /> Secretary to pay the indebtedness on behalf of the COMPANY, and <br /> c. RESOLVED,that the shareholders hereby authorizes the COMPANY to make <br /> and levy assessment(s) sufficient to pay off this contract loan pursuant to its <br /> terms, and <br /> d. RESOLVED, that the shareholders hereby authorizes the COMPANY to set <br /> aside this assessment revenue in a special fund separate and apart from other <br /> COMPANY revenues to assure repayment of this revenue to the STATE, and <br /> e. RESOLVED, that the shareholders hereby authorizes the COMPANY to sign <br /> a security interest in such assessment revenues in favor of the STATE to <br /> secure the repayment. . <br /> Dated this 9 day of 0,4A. , 1995 <br /> LOLOFF LATERAL DITCH COMPANY <br /> By ,,,...0 4 gc-R4,11 <br /> Title.: <br /> ATTEST: 7ecicieitir 4 <br /> APPENDIX D <br />