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• <br /> "Required Reserve Amount" means the amount equal to an annual loan payment as <br /> specified for the Required Reserve Amount under Section 14(D) of the Loan Contract. <br /> "Reserve Account" means a special account of the District designated as the "2017 <br /> CWCB Note Reserve Account," created by this Resolution for the purpose of paying, if <br /> necessary, the principal of and interest on the Note. <br /> "Resolution"means this resolution of the Board, including any amendments hereto. <br /> "Revenues" means all income and revenues directly or indirectly derived by the District <br /> from the operation and use of the System, or any part thereof, including, without limitation, any <br /> rates, fees, plant investment fees, standby charges, availability fees, tolls and charges for the <br /> services furnished by, or the use of, the System, and all income attributable to any past or future <br /> dispositions of property or rights or related contracts, settlements or judgments held or obtained <br /> in connection with the System or its operations, and including investment income accruing from <br /> moneys held to the credit of the Water Revenue Fund; provided however, that there shall be <br /> excluded from Revenues any moneys borrowed and used for providing Capital Improvements; <br /> any money and securities, and investment income therefrom, in any refunding fund, escrow <br /> account or similar account pledged to the payment of any bonds or other obligations; and any <br /> moneys received as grants or appropriations from the United States, the State of Colorado or <br /> other sources, the use of which is limited or restricted by the grantor or donor to the provision of <br /> Capital Improvements or for other purposes resulting in the general unavailability thereof, except <br /> to the extent any such moneys shall be received as payments for the use of the System, services <br /> rendered thereby, the availability of any such service, or the disposal of any commodities <br /> therefrom. <br /> "State"means the State of Colorado. <br /> "System" means all of the District's water facilities and properties, now owned or <br /> hereafter acquired, whether situated within or without the District boundaries, including all <br /> present or future improvements, extensions, enlargements, betterments, replacements or <br /> additions thereof or thereto, which facilities and properties comprise the District's water activity <br /> enterprise. <br /> "Water Enterprise Fund" means the Water Enterprise Fund of the District which <br /> accounts for the water financial activities comprising the Enterprise. <br /> Section 2. Approval of Loan Contract and Authorization of the Note. Pursuant to <br /> and in accordance with the State Constitution and Enabling Laws, the Note shall be issued by the <br /> District acting by and through its Water Activity Enterprise. The form of the Loan Contract <br /> setting forth the terms, conditions and details of the Note and the procedures relating thereto, is <br /> incorporated herein by reference and is hereby approved; all District officials, agents and <br /> employees are hereby directed to take such actions as are necessary and appropriate to fulfill the <br /> obligations of the District under the Financing Documents. The District shall enter into the Loan <br /> Contract and deliver the Note in substantially the form presented to the District at or prior to this <br /> meeting of the Board with only such changes as are not inconsistent herewith; provided that such <br /> documents may be completed, corrected, or revised as deemed necessary by the parties thereto in <br /> 4 <br /> 4828-5273-6853.1 <br />