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NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE <br /> SAN LUIS VALLEY IRRIGATION DISTRICT, that the San Luis Valley Irrigation District <br /> proceed enter into the Loan Contract No. CT: 2018-3303 with the Colorado Water Conservation <br /> Board for a loan in the amount of fifteen million dollars ($15,000,000) for a 30-year term with an <br /> interest rate of 1.65%per annum. <br /> BE IT FURTHER RESOLVED that the Board of Directors of the San Luis Valley Irrigation <br /> District has reviewed the terms conditions and obligations set forth in Contract No. CT: 2018- <br /> 3303 and Grant Nos. CMS 108758, CORE CTGG1 2018-1805, find them acceptable, and will <br /> perform and observe those terms, conditions, and obligations; <br /> BE IT FURTHER RESOLVED that the Board of Directors of the San Luis Valley Irrigation <br /> District pledges the District's landowner assessments for repayment of Loan Contract No. CT: <br /> 2018-3303, which form of collateral is in accordance with CWCB's Standard Loan Contract— <br /> Waiver 160—approved November 10, 2003, Section A.8., Pledge of Revenues. <br /> BE IT FINALLY RESOLVED that the President of the Board of Directors of the San Luis <br /> Valley Irrigation District is authorized to execute Loan Contract No. CT: 2018-3303, and any <br /> other necessary and related documents. <br /> DONE the i day of May 2018 at a regularly scheduled Board of Directors meeting <br /> held at the District's Office in Center, Colorado. <br /> SAN LUIS VALLEY IRRIGATION DISTRICT <br /> / <br /> BY: <br /> Randall Palmgren, President / <br /> ATTEST: <br /> d/711 <br /> Amy D , Secretary <br /> APPENDIX 4 Resolution No. 2018-02 <br /> Page 2 of 2 <br />