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<br /> , V COLORADO �
<br /> MCPHLO DG ores Water CO .r ancly istric�, ,
<br /> IRRIGATION RESERVOIR
<br /> RECREATION 60 S. Cactus St. • P.O.,Boz 1150,•'Cortez, CO 81321 .:; . '
<br /> MUNICIPAL POWER , .Phone: 970-565-7562• Fax: 970-565-0870 • Email arveschoug( frl -�ntier net °
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<br /> NSRV4 i :• e �S WATER CONSERVANCY DISTRICT WATER ACTIVITY ENTERPRISE
<br /> RESOLUTION No. 04-01
<br /> RESOLUTION APPROVING THE LOAN CONTRACT FOR A LOAN OF UP TO $595,058
<br /> FROM THE COLORADO WATER CONSERVATION BOARD TO THE DOLORES WATER
<br /> CONSERVANCY DISTRICT, ACTING BY AND THROUGH THE DOLORES WATER
<br /> CONSERVANCY DISTRICT WATER ACTIVITY ENTERPRISE, TO CONSTRUCT A NON-
<br /> POTABLE LAWN AND GARDEN IRRIGATION WATER (SECONDARY WATER)
<br /> DELIVERY SYSTEM IN THE TOWN OF DOVE CREEK, COLORADO
<br /> 'WHEREAS, the Dolores Water Conservancy District (the "District") is a water
<br /> conservancy district, located in Dolores and Montezuma Countie olorado, established
<br /> pursuant to and governed by Colorado statute, C.R.S. § 37-45-101,,eta: tt ctaeserve and
<br /> develop the water resources of the Dolores River and its tributaries in .•t ' .•1a ; and
<br /> WHEREAS, the Dolores Water Conservancy Distri t t r ity,, Enterprise (the
<br /> "Enterprise") is an enterprise within the meaning of C.R.S. r31'.454'-1014 sArt le X,
<br /> Section 20 of the Colorado Constitution, and was established by Reso r io 3-,2 of the
<br /> District, dated December 14, 1993; and ." +,.;:'.
<br /> ,eta
<br /> WHEREAS, the District, acting by and through the Enterprise, applied to the Colorado
<br /> Water Conservation Board (the "CWCB") for a loan to finance a portion of the costs for the
<br /> construction of a non-potable lawn and garden irrigation water (Secondary Water) delivery
<br /> system in the Town of Dove Creek, Colorado (the "Project"). The total cost of the Project is
<br /> estimated to be $981,450, for which the District received a grant of$300,000 in federal funds
<br /> from the Colorado Division of Local Affairs.
<br /> WHEREAS, at its July 29, 2003, meeting, the CWCB approved a loan to the District,
<br /> acting by and through the Enterprise, in an amount not to exceed $892,137 or up to ninety
<br /> percent (90%) of the cost of the Project, whichever is less, at an interest rate of three percent
<br /> (3%)per annum for a term of up to 10 years to finance the costs of the Project; and,
<br /> WHEREAS, the District, acting by and through the Enterprise, now desires to borrow
<br /> $598,058 ("Loan Amount") for the Project upon the terms and conditions set forth in the Loan
<br /> Contract #C150153 ("Loan Contract") and the CWCB now desires to loan money to the District,
<br /> acting by and through the Enterprise.
<br /> NOW, THEREFORE, BE IT RESOLVED THAT:
<br /> 1. The District, acting by and through the Enterprise, shall have the Project
<br /> completed in accordance with a "Feasibility Report Dove Creek Colorado, Secondary Water
<br /> Supply System dated March 2003, updated August 2003". The CWCB has reviewed and
<br /> approved the Feasibility Report which is on file in the office of the CWCB.
<br /> Appendix 3a to Loan Contract C150153
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