CT2016-2055 Amendment No. 1

• Contract/PO #: CT2016-2055
• Contractor Name: Centennial Water and Sanitation District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

RESOLUTION 18-123
WHEREAS, Centennial Water and Sanitation District (hereinafter referred to as the
"District"),Douglas County,Colorado, is a political subdivision of the State,a body corporate and
politic, and a quasi-municipal corporation under the laws of the State of Colorado; and
WHEREAS, on September 29, 2014, the Board of Directors of the District adopted
Resolution 14-145 (hereinafter referred to as the "Original Note Resolution") authorizing Loan
Contracts and Promissory Notes with the Department of Natural Resources, Colorado Water
Conservation Board (hereinafter referred to as the "CWCB") for participation in the Chatfield
Reallocation Project (hereinafter referred to as the "Chatfield Reallocation Project"); and
authorizing the execution and delivery of Promissory Notes in the principal amount of$4,978,290
for storage; in the principal amount of$28,527,450 for construction and in the principal amount
of $10,934,260 for mitigation monitoring (hereinafter, collectively referred to as the "Loan
Contracts"); and
WHEREAS, subsequent to the adoption of the Original Note Resolution certain terms and
conditions of the Loan Contracts were amended that necessitated changes to the Original Note
Resolution,including references to Article X, Section 20 of the Colorado Constitution(hereinafter
referred to as "Section 20") that were approved, ratified and confirmed by Supplemental
Resolution 15-141 (hereinafter referred to as the "Supplemental Note Resolution"); and
WHEREAS, at an election held in the District on the 3rd day of November, 1992, in
accordance with law and pursuant to due notice, the registered electors did on Question No. 4,
carry in the affirmative by a majority of ballots cast, the question of authorizing the District to
create any multiple-fiscal year obligation debt or other financial obligation whatsoever, including
revenue bonds without an adequate present cash reserve pledged irrevocably or held for payment
thereof in future years; and
WHEREAS,the CWCB has advised the District that the costs of the Chatfield Reallocation
Project were re-evaluated and reexamined in October 2017 and the Department of Natural
Resources (hereinafter referred to as the "DNR") notified all project participants that the total
reallocation project cost estimate increased from $134,000,000 to $171,000,000; and
WHEREAS, it is necessary for the District to amend the Loan Contract and Promissory
Note for the construction portion of the Chatfield Reallocation Project in order to increase the
principal amount thereof from $28,527,450 to $37,573,717; and
WHEREAS, there has been presented to the Board of Directors, Loan Contract
Amendment No. 1 (hereinafter referred to as "Amendment No. 1"),that includes the Amendment
to Promissory Note (hereinafter referred to as the "Amended Promissory Note") and the
Amendment to Security Agreement (hereinafter referred to as the "Amended Security
Agreement"); and
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