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SOUTH EASTE RN COLORADOsa Water ActivityEnterprise <br /> "Your investment in water" <br /> RESOLUTION-NO. 2017-01 E <br /> RESOLUTION APPROVING A LOAN FROM THE COLORADO WATER <br /> CONSERVATION BOARD TO FUND COSTS OF <br /> ARKANSAS VALLEY CONDUIT PHASE ONE,PUEBLO DAM HYDROELECTRIC <br /> PROJECT;AUTHORIZING THE FORM AND EXECUTION OF THE LOAN <br /> CONTRACT,PROMISSORY NOTE TO EVIDENCE SUCH LOAN,AND SECURITY <br /> AGREEMENT IN CONNECTION THEREWITH;AUTHORIZING THE EXECUTION <br /> AND DELIVERY OF DOCUMENTS RELATING THERETO;AND PRESCRIBING <br /> OTHER DETAILS IN CONNECTION THEREWITH. <br /> WHEREAS, the staff and counsel of the Southeastern Colorado Water Conservancy <br /> District (the "District"), acting by and through its Water Activity Enterprise (the "Enterprise"), a <br /> government-owned business within the meaning of Article X, Section 20(2)(d), of the Colorado <br /> Constitution, organized pursuant to Colorado Revised Statutes Section 37-45.1-101 et seq., have <br /> made a presentation regarding the status and planning for the proposed Arkansas Valley Conduit <br /> Phase One, Pueblo Dam Hydroelectric Project (the "Project"), including the proposed loan being <br /> made by the Colorado Water Conservation Board ("CWCB") to fund the estimated costs of the <br /> Project; <br /> WHEREAS, the Board of Directors of the District, acting as the Board of Directors of <br /> the Enterprise (the "Board") has heretofore determined that the interests of the District and the <br /> public interest and necessity demand and require that the Enterprise participate in the Project; <br /> and <br /> WHEREAS, the cost of the Project is not expected to exceed $22,000,000, including <br /> design, engineering, legal, financing and administrative costs relating thereto, and any other costs <br /> incidental thereto; and <br /> WHEREAS,the Board has determined that in order to finance the Project, it is necessary <br /> and advisable and in the best interests of the Enterprise to enter into a loan contract (the "Loan <br /> Contract") and a security agreement (the "Security Agreement") with the Colorado Water <br /> Conservation Board ("CWCB"), a body corporate and political subdivision of the State of <br /> Colorado, pursuant to which the CWCB will loan the Enterprise $17,392,200 (the "Loan"), in <br /> order to finance the Project; and <br /> WHEREAS, the Enterprise's repayment obligations under the Loan Contract shall be <br /> evidenced by a promissory note (the "Note") to be executed and delivered by the Enterprise to <br /> the CWCB; and <br /> APPENDIX 4 <br /> 31717 UNITED AVENUE PUEBLO, CO 81001 0 PHONE (719) 948-2400 FAX (719) 948-0036 <br /> web site:www.secwcd.org <br />