C150353 Contract Amendment No 1 - Laserfiche WebLink

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Section 5. Amendment of Resolution. This Resolution may be amended only with the prior written consent of CWCB. The CWCB's approval of the Loan Contract Amendments constitutes, for purposes of the Original Authorizing Resolution, any approval required with respect to amendments made by this Resolution to the Original Authorizing Resolution. Section 6. Findings of the Board. The Board, having been fully informed of and having considered all the pertinent facts and circumstances, hereby fords, determines, declares and covenants with the CWCB that: (i) The Authority has been duly established and is operating during the current calendar year as an "enterprise" within the meaning of Article X, Section 20 of the Colorado Constitution; (ii) the Board elects to apply all of the provisions of Title 11, Article 57, Part 2, C.R.S. to the execution of the Loan Contract Amendments and the Security Agreement Amendments and to the issuance of the Promissory Note Amendments;and (iii) in accordance with the Authority IGA: (A)the aggregate principal amount of the loans evidenced by the Original Loan Contracts,as modified by the Loan Contract Amendments, do not exceed $9,000,000,the terms thereof do not exceed 15 years,and the interest rates thereon do not exceed 2.75%APR;and(B) the Loan Contract Amendments, Promissory Note Amendments and Security Agreement Amendments do not represent a new borrowing of the Authority but, rather,a modification to an existing borrowing that continues to be in compliance with the authorization of the Authority IGA (and, in particular, the transaction contemplated by the First Amendment to Authority IGA):and (iv) the execution of the Loan Contract Amendments and the Security Agreement Amendments and to the issuance of the Promissory Note Amendments, and all procedures undertaken incident thereto, are in full compliance and conformity with all applicable requirements, provisions and limitations prescribed by the Constitution and the Enabling Law, and all conditions and limitations of the Enabling Law and other applicable law relating to the execution of the Loan Contract Amendments and the Security Agreement Amendments and to the issuance of the Promissory Note Amendments have been satisfied. Section 7. Confirmation of Original Authorizing Resolution as Amended. The Original Authorizing Resolution, as amended by this Resolution, is hereby confirmed, and the Original Authorizing Resolution,as amended by this Resolution,remains in full force and effect as of the date hereof. Without limiting the foregoing,the pledge of Net Revenues for payment of the Promissory Note Amendments, as provided in Section 5 of the Original Authorizing Resolution,is hereby reaffirmed. } Section 8. Ratification and Approval of Prior Actions. All actions heretofore taken by the officers of the District and the members of the Board,not inconsistent with the provisions 7 4812-2618-5034.I