CT2018-2851 Contract

• Contractor Name: Central Colorado Water Conservancy District, Well Augmentation Subdistrict ‎(WAS)‎
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

RESOLUTION
A RESOLUTION OF THE WELL AUGMENTATION SUBDISTRICT OF
THE CENTRAL COLORADO WATER CONSERVANCY DISTRICT, IN
WELD, ADAMS AND MORGAN COUNTIES, COLORADO,
AUTHORIZING A LOAN FROM THE COLORADO WATER
CONSERVATION BOARD TO FINANCE AN AUTHORIZED PURPOSE
APPROVED AT THE ELECTION HELD WITHIN THE DISTRICT ON
NOVEMBER 2, 2004, AND FOR THE LEVY OF PROPERTY TAXES
WITHIN THE DISTRICT TO PAY SUCH LOAN; AND PROVIDING THE
FORM OF THE LOAN AND OTHER DETAILS IN CONNECTION
THEREWITH.
WHEREAS, the Well Augmentation Subdistrict of the Central Colorado Water
Conservancy District, in Weld, Adams and Morgan Counties, Colorado (the "District"), is a duly
organized and validly existing water conservancy district, quasi-municipal corporation and
political subdivision of the State (unless otherwise indicated, capitalized terms used in this
preamble shall have the meanings set forth in Section 1 of this Resolution); and
WHEREAS, Article X, Section 20 of the Colorado Constitution provides that voter
approval in advance is required for the creation of any district direct or indirect debt or other
multiple-fiscal year financial obligation whatsoever except for refinancing district bonded debt at
a lower interest rate; and
WHEREAS, at an election on November 2, 2004, a majority of the eligible electors of the
District voting on such question,voted in favor of the following ballot issue:
SHALL THE WELL AUGMENTATION SUBDISTRICT OF THE CENTRAL COLORADO
WATER CONSERVANCY DISTRICT DEBT BE INCREASED UP TO $39,000,000, WITH A
MAXIMUM REPAYMENT COST OF UP TO $83,575,000, AND SHALL SUBDISTRICT
TAXES BE INCREASED UP TO $2,885,000 ANNUALLY FOR THE PURPOSES OF
FINANCING:
• THE PURCHASE OR LEASE OF WATER RIGHTS;
• THE CONSTRUCTION AND IMPROVEMENT OF WATER STORAGE
RESERVOIRS FOR STORAGE, WATER CONSERVATION, OPEN SPACE AND
RECREATIONAL PURPOSES;
• WATER RECHARGE FACILITIES FOR AUGMENTATION PURPOSES;AND
• SUCH OTHER COSTS AS ARE REASONABLE AND NECESSARY TO OBTAIN A
DECREED PLAN OF WATER AUGMENTATION;
SUCH DEBT TO CONSIST OF THE ISSUANCE AND PAYMENT OF LIMITED TAX
GENERAL OBLIGATION BONDS, WHICH BONDS SHALL BEAR INTEREST AT A
MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 7.0% PER ANNUM
AND SHALL BE DATED AND SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT,
ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS,
4843-0359-8943.2