CT2018-833 Contract

• Contract/PO #: CT2018-833
• Contractor Name: Southeastern Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

c. There are no provisions in the Colorado Constitution or any other state or local
law that prevent the Loan Contract from binding the Enterprise; and
d. The Loan Contract will be valid and binding against the Enterprise if entered into
by the CWCB; and
e. The Enterprise was formed and is operated as a water activity enterprise pursuant
to the provisions of C.R.S. § 37-45.1-101 et seq. and is a government-owned
business authorized to issue its own revenue bonds and receiving fewer than 10%
of annual revenue in grants from all Colorado state and local governments
combined within the meaning of Article X, Section 20 of the Colorado
Constitution.
6. Staff and counsel have further discussed with the Board that the Enterprise will
irrevocably pledge to the CWCB, for purposes of repayment of the loan, the net revenues
from the Project, as defined below in Section 4 as "Pledged Power Revenues."
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Southeastern Colorado Water Conservancy District Water Activity Enterprise,as follows:
SECTION 1. Approvals and Authorizations. The Financing Documents, in substantially
the form presented in this meeting, with such changes and amendments as hereinafter provided
for, are hereby authorized and approved. Said form may be changed and amended by mutual
agreement of the President and General Counsel of the Enterprise, provided that such changes
comply with the parameters set forth below.
SECTION 2. Election to Apply Supplemental Act. Section 11-57-204 of the
Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the
"Supplemental Act") provides that a public entity, including the Enterprise, may elect in an act
of issuance to apply all or any of the provisions of the Supplemental Act. The Board hereby
elects to apply all of the Supplemental Act to the Financing Documents.
SECTION 3. Dele ag tion.
(a) Pursuant to Section 11-57-205 of the Supplemental Act, the Board hereby
delegates to the President or any member of the Board the authority to make the following
determinations relating to and contained in the Financing Documents, subject to the restrictions
contained in paragraph(b)of this Section 3:
(i) The interest rate on the Loan;
(ii) The principal amount of the Loan;
(iii) The amount of principal of the Loan maturing in any given year
and the final maturity of the Loan;
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