CT2016-1696 Contract Amend 2 - Laserfiche WebLink

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replacements, or additions thereof or thereto, which facilities and properties comprise the District's Water Activity Enterprise. "Water and Wastewater Enterprise Fund" means, collectively, the funds of the District designated as the "Water Enterprise Fund" and the "Wastewater Enterprise Fund," previously established by the District and reaffirmed by the provisions hereof. Section 2. Authorization. In accordance with the Constitution of the State of Colorado, Title 31, Article 35, C.R.S., Title 32, Article 1, C.R.S.; Title 37, Article 45.1, C.R.S., and all other laws of the State of Colorado thereunto enabling, the Loan A Amendment, the Loan A Note Amendment, the Loan B Contract and the Loan B Note are incorporated herein by reference and are hereby approved for purposes of effectuating the Restructuring Project; the Chairman of the Board and President of the District, the Secretary of the Board and all other appropriate officers of the District are hereby authorized and directed to execute and deliver the Loan A Amendment, the Loan A Note Amendment, the Loan B Contract and the Loan B Note, in substantially the forms made available to the Board, with such changes, not inconsistent herewith, as are approved by the persons executing the same (whose signatures thereon shall constitute conclusive evidence of such approval); and the District is hereby authorized and directed to perform its obligations under the Loan A Contract, the Loan A Note, the Loan B Contract and the Loan B Note. The accomplishment of the Restructuring Project is hereby authorized, approved, and ordered, and it is hereby determined that the Notes mature at such times as do not exceed the estimated life of the Project. Section 3. Pledge and Lien for Payment of Notes and Amounts Payable Pursuant to Loan Contracts. The principal of and interest on the Notes and any other amounts payable pursuant to the Notes and the Loan Contracts, including, without limitation, amounts required to fund the Reserve Accounts, the loan service fees payable pursuant to the Loan Contracts, any contract amendment service fees payable pursuant to the Loan Contracts and any late charges payable pursuant to the Notes, shall be payable only out of Adjusted Net Revenue. Pursuant to the Loan Contract, the District grants an irrevocable and first lien on the Adjusted Net Revenue, but not an exclusive such lien, for the payment of the Notes, and the Adjusted Net Revenue is hereby pledged to the payment of the Notes. The Parity Lien Bonds have a lien on the Adjusted Net Revenue which is on a parity with the lien granted pursuant to the Loan Contracts. Notwithstanding the foregoing or anything else contained herein, the Notes shall have no pledge of or lien or claim on any debt service reserve account created for any Parity Lien Bonds. The CWCB may not look to any general or other fund of the District for the payment of the principal of and interest on the Notes or any other such amounts payable under the Loan Contracts or the Notes, except the Water and Wastewater Enterprise Fund and the respective Reserve Accounts, and none of the Loan A Contract, the Loan A Note, the Loan B Contract or the Loan B Note shall constitute a debt or an indebtedness of the District within the meaning of any constitutional or statutory provision or limitation; nor shall they be considered or held to be general obligations of the District. Section 4. Water and Wastewater Enterprise Fund. There is hereby reaffirmed the Water and Wastewater Enterprise Fund, which shall be maintained by the District in accordance with the provisions of this Resolution. The District shall apply amounts on deposit in the Water and Wastewater Enterprise Fund as provided in the Loan Contracts and in the resolutions of the District and other documents governing the Parity Lien Bonds. 4848-5023-6722.3 APPENDIX E-2