CT2018-3122 Contract

• Contract/PO #: CT2018-3122
• Contractor Name: Trinchera Irrigation Company
• Contract Type: Grant/Loan Combo
• Loan Projects - Doc Type: Contract Documents

APPENDIX 4, RESOLUTIONS
Resolutions of the Shareholders of the Trinchera Irrigation Company
The Shareholders of the Trinchera Irrigation Company,(Company)at a Shareholders' meeting held 3,i`'/.',2018,at
4,1 e 4 , Colorado, adopted the following resolutions concerning a secured loan from the State of Colorado Water
Conservation Board(CWCB),for the purpose of the Mountain Home Dam Outlet Rehabilitation Phase III(Project),in an amount
not to exceed$440,360.00 which includes the CWCB Origination Fee of 1%of the Base Loan Amount.
At said meeting,the SHAREHOLDERS charged that these resolutions are irrepealable during the term of the loan
and,pursuant to the Company's bylaws,authorized the Board of Directors and officers,RESOLVED as follows:
I. to enter into and comply with the terms of a contract with the Colorado Water Conservation Board for a loan in an amount
not to exceed$440,360.00,as needed to finance the project costs,including the CWCB Origination Fee of 1%,and
2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual amounts due under the
Contract,and to pledge assessment revenues and the Company's right to receive said revenues for repayment of the loan,and
3. to place said pledged revenues in a special account separate and apart from other Company revenues,and
4. to make the annual payments required by the Promissory Note and to make annual deposits to a debt service reserve fund,
and
5. to pledge the assessment revenues backed by a rate covenant and the Mountain Home Reservoir Outlet Structure for the loan,
and
6. to execute all documents as required by the Contract,including,but not limited to,a Promissory Note,Security Agreement
and Deed of Trust,necessary to convey a security interest in said property to the CWCB,and
7. to take such other actions and to execute such other documents as may be necessary to consummate and implement the loan.
CERTIFICATION
The undersigned,respectively,the President and Secretary of the Company,hereby certify that the foregoing are true and
correct copies of resolutions duly adopted at a meeting of the Company's shareholders duly called and held as above
recited,pursuant to the Company's bylaws,and that said resolutions have not been amended or rescinded.
Given under our hands and the seal of the Company the 9 day of /ii)r,1 ) 2018.
(S E A L)
Signature
ATTEST:
Name: 07 ,..? Y
By: �tf-ze
Signature Title: t'%jam le 4 1
Name: r / c6'-- r.�,'lli Date: 4/ `?4'/
Title: a 6 14'
Date: '7/7/2- /
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Contract Number.CT2015-3122