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• <br /> EAST DILLON WATER DISTRICT • <br /> RESOLUTION AUTHORIZING EXECUTION AND DELIVER OF <br /> A LOAN CONTRACT <br /> WHEREAS, the EDWD, in Summit County, Colorado, is a quasi-municipal corporation <br /> duly organized and existing as a water district under the constitution and laws of the State of <br /> Colorado; and <br /> WHEREAS, the EDWD was authorized, pursuant to a regular election of the qualified <br /> electors for the EDWD, duly called and held Tuesday, May 7, 2002 to incur indebtedness in the <br /> aggregate principal amount of$2,550,000, with a repayment cost of$5,856,550 for the purpose <br /> of purchasing water rights and well; and <br /> WHEREAS, the Department of Natural Resources, Colorado Water Conservation Board <br /> ("CWCB) has issued its loan commitment to finance a loan to the East Dillon Water District <br /> ("EDWD") to fund the acquisition of water rights according to Purchase Agreements with the <br /> Vidler Water Company, Inc. ("Vidler") and the City of Golden; and <br /> WHEREAS, the Board has determined that it is in the best interest of the residents of the <br /> District to close the Purchase Agreement with Vidler with funds obtained from the CWCB <br /> according to the terms of the loan commitment. <br /> NOW THEREFORE, be it resolved by the EDWD as follows: <br /> 1. The EDWD Board of Directors hereby authorize and direct the President, Bruce <br /> Farrell, and the Secretary, Jan Geiss, to execute and deliver on behalf of the EDWD a Loan <br /> Contract, Promissory Note, Pledge of Revenues and such other documents referenced in the loan <br /> commitment and required to obtain the CWCB loan and to close the purchase of the Vidler <br /> Purchase Agreement. <br /> 2. This resolution was authorized by all the members of the Board at its regular <br /> meeting on May 16, 2002 and will remain in effect until closing of the CWCB loan and the <br /> Water Rights Purchase Agreements. /1 <br /> U' ��Lf / / //� /<�� D2?6/ r t/e- 7'�c-L //CU j �J <br /> Bruce Farrell, President Date onna Rosener Date <br /> �,. /I/C ,>5 6/. - / /off. <br /> 'gela'Oberriter, Vice-President Date Jan Geiss, Secretary Date <br /> .� � <br /> oseph P. O'Vtall 0Owe'A% • ate . <br /> (S E A L) ..�� <br /> Jan Geiss, Self et .y ;o C ate - <br /> %h <br /> 00,TY -+ <br /> Appendix 3 to Loan Contract C150100 <br />