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LITTLE 4.�FIOMPSON WATER DeTRICT <br /> DIRECTORS: Telephone(970)532-2096 <br /> Robert Boggio,President 835 E.Highway 56 <br /> Dean Anderson Drawer G <br /> Keith Croonquist Berthoud,CO 80513 <br /> Richard Macomber wwa.Itwd.org <br /> Dave Lorenz RESOLUTION OF THE BOARD OF DIRECTORS <br /> Carey J.Salomnonson <br /> Ale,Sauer OF THE LITTLE THOMPSON WATER DISTRICT <br /> Manager: ACTING BY AND THROUGH THE LITTLE THOMPSON <br /> Richard H.H.Whittet WATER DISTRICT WATER ACTIVITY ENTERPRISE <br /> The Board of Directors of The Little Thompson Water District acting by and through the Little <br /> Thompson Water District Water Activity Enterprise (District), at a meeting held October 7, 2004, <br /> at Centennial Bank, 807 Mountain Avenue, Berthoud, Colorado, adopted the following <br /> resolution concerning a loan in the amount of up to $3,937,500, not to exceed 75% of project <br /> costs, from the State of Colorado Water Conservation Board (CWCB), for the purpose of a new <br /> water storage reservoir construction in a 50/50 partnering with Central Weld County Water <br /> District. <br /> At said meeting, the Board charged that these resolutions are irrepealable during the term of the loan <br /> and authorized the President and the Secretary, RESOLVED as follows. <br /> 1. To enter into and comply with the terms of a Loan Contract with the Colorado Water <br /> Conservation Board for a loan in the amount of$3,937,500, or such actual amount, more or less, <br /> as needed to finance up to 75% of the project costs, and <br /> 2. To levy and collect water revenues from the tapholders in an amount sufficient to pay the annual <br /> amounts due under the Loan Contract, and to pledge water revenues and the Little Thompson <br /> Water District's right to receive said revenues for repayment of the loan, and <br /> 3. To place said pledged revenues in a special account separate and apart from other DISTRICT <br /> revenues, and f <br /> 4. To make the annual payments required b the promissory note an raga ' e osits to a <br /> p Y q Y p ►Y p <br /> debt service reserve fund, and <br /> 5. To execute all documents as required by the Loan Cont ritudi �:t o limI 'd to1 a <br /> A ' LAS T <br /> Security Agreement and a Promissory Note, and <br /> 6. To take such other actions and to execute such other documents as may be necessary to <br /> consummate and implement the loan. <br /> CERTIFICATION <br /> The undersigned, the President and the Secretary, respectively, hereby certify that the foregoing are <br /> true and correct copies of resolution duly adopted at a meeting of the Little Thompson Water District <br /> Board of Directors duly called and held as above recited, pursuant to the laws of the State of Colorado, <br /> and that said resolution has not been amended or rescinded. <br /> GIVEN UNDER OUR HANDS AND THE SEAL OF THE LITTLE THOMPSON WATER DISTRICT:THE 7T".DAY OF OCTOBER 2004. <br /> j � . <br /> (S EAL) <br /> BY <br /> _ /4kv k <br /> LJ <br /> Robert B ggio, side <br /> r ATTE <br /> �,-, t <br /> By <br /> The Secretary <br /> Appendix 3 to Loan Contract C150121 <br />