Laserfiche WebLink
project costs,including the CWCB loan origination fee of 1%,and <br /> 2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual <br /> amounts due under the Loan Contract, and to pledge assessment revenues and the Company's <br /> right to receive said revenues for repayment of the loan,and <br /> 3. to place said pledged revenues in a special account separate and apart from other COMPANY <br /> revenues,and <br /> 4. to make the annual payments required by the promissory note and to make annual deposits to a <br /> debt service reserve fund,and <br /> 5. to pledge the May Pipeline as collateral for the loan and execute all documents,including a deed <br /> of trust,necessary to convey a security interest in said property to the CWCB, <br /> 6. to execute all documents as required by the loan contract, including, but not limited to, a <br /> Security Agreement and a Promissory Note,and <br /> 7. to take such other actions and to execute such other documents as may be necessary to <br /> consummate and implement the loan. <br /> BE IT FURTHER RESOLVED that the foregoing Resolution is irrepealable <br /> during the term of the loan. <br /> WE, BEING ALL OR A MAJORITY OF THE SEVEN DIRECTORS OF THE <br /> COMPANY,HEREBY APPROVE the foregoing Resolution this day of June 012. <br /> Director � Director 4 .i . L , <br /> i <br /> Director "AI, ,4 .. Director <br /> / <br /> Director , ,,, / ,_„_ 4. /' Director <br /> / / / i <br /> Director a <br /> 1 <br /> CERTIFICATION <br /> IT IS HEREBY CERTIFIED that that this is a . , , o - of the <br /> Resolution duly adopted at a special meeting of the Company's o • • ' ly called <br /> and held as above recited, pursuant the Company's By-L , .d at saidFResolution has not <br /> been amended or rescinded; 7 <br /> WE HEREBY FURTHER CERTIFY, that the signatures appe e <br /> genuine, original signatures of members of the duly appointed President, duly appointed <br /> Secretary of the Company,and members of the Board of Directors,respectively;and <br /> MVIC-Gen Rep 2 <br /> Resolution Re 2012 Loan from CWCB <br /> March 27,2012 <br /> Appendix 3a to Loan Contract C150333 <br /> Page 2 of 3 <br />