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C150353 Contract Amendment No 1
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C150353 Contract Amendment No 1
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Last modified
7/10/2017 8:56:04 AM
Creation date
7/10/2017 8:55:57 AM
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Loan Projects
Contract/PO #
C1503353
Contractor Name
Boxelder Basin Regional Stormwater Authority
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
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Amendments, do not exceed $9,000,000, the terms thereof do not exceed 15 years, and the <br /> interest rates thereon do not exceed 2.75% APR; and (ii) the Loan Contract Amendments, <br /> Promissory Note Amendments and Security Agreement Amendments do not represent a new <br /> borrowing of the Authority but,rather,a modification to an existing borrowing that continues to <br /> be in compliance with the authorization of the Authority IGA(and, in particular,the transaction <br /> contemplated by the First Amendment to Authority IGA):and <br /> WHEREAS,after consideration,the Board has determined that the execution of the Loan <br /> Contract Amendments, the Promissory Note Amendments and the Security Agreement <br /> Amendments is in furtherance of the Plan and in the best interests of the Authority and the <br /> inhabitants of the Members;and <br /> WHEREAS,voter approval in advance is not required under Article X, Section 20 of the <br /> Colorado Constitution or any other law for the execution of the Loan Contract Amendments or <br /> Security Agreement Amendments or the issuance of the Promissory Note Amendments by the <br /> Authority;and <br /> WHEREAS,the form of the Loan Contract Amendments,Promissory Note Amendments <br /> and Security Agreement Amendments and related appendices have been reviewed by the <br /> Authority staff and its counsel;and <br /> WHEREAS, the Authority desires to authorize the execution of the Loan Contract <br /> Amendments and Security Agreement Amendments,the issuance and delivery of the Promissory <br /> Note Amendments, and the execution of any additional documentation which may be related to <br /> such modifications of the original financings that are the subject of the Original Loan Contracts; <br /> therefore, <br /> NOW THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br /> THE BOXELDER BASIN REGIONAL STORMWATER AUTHORITY AS FOLLOWS: <br /> Section 1. Definitions. The following terms shall have the following meanings as used <br /> in this Resolution. To the extent any of the terms set forth below were defined in the Original <br /> Authorizing Resolution, the definitions set forth in the Original Authorizing Resolution are <br /> hereby amended by the below. Otherwise, capitalized terms set forth in this Resolution and not <br /> defined herein shall have the meanings set forth in the Original Authorizing Resolution. <br /> "Board' means the Board of Directors of the Authority, the governing body of the <br /> Authority. <br /> "C.R.S." means the Colorado Revised Statutes, as amended and supplemented as of the <br /> date hereof. <br /> "CWCB" means the Department of Natural Resources, Colorado Water Conservation <br /> Board,an executive branch agency of the State. <br /> "Loan Contract No. C150352" means the contract, designated Loan Contract No. <br /> C150352,as may be amended from time to time,by and between the State for the use and benefit <br /> of the CWCB and the Authority. <br /> 4 <br /> 4812-2618-5034.1 j <br /> j1 <br />
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