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RESOLUTIONS OF THE BOARD OF DIRECTORS <br /> OF THE PUEBLO CONSERVANCY DISTRICT <br /> The Board of Directors of the_Pueblo Conservancy District (hereinafter referred to as "District"), at a meeting <br /> held August 15, 2018, at Pueblo,Colorado,adopted the following resolutions concerning a secured loan from the State of <br /> Colorado Water Conservation Board (CWCB), for the purpose of the Arkansas River and Wildhorse Creek Levees in the <br /> amount not to exceed$17,170,000.00 which includes the CWCB loan origination fee of 1%of the loan amount. <br /> At said meeting, the Board charged that these resolutions are irrepealable during the term of the loan and, <br /> pursuant to the District's bylaws,authorized the President and Secretary,RESOLVED as follows: <br /> 1. to enter into and comply with the terms of a contract with the Colorado Water Conservation Board for a loan in the <br /> amount not to exceed$17,170,000.00 as needed to finance the project costs,including the CWCB loan origination fee <br /> oft%,and <br /> 2. to levy and collect maintenance fund assessment revenues in an amount sufficient to pay the annual amounts due <br /> under the Loan Contract,and to pledge said revenues and the District's right to receive said revenues for repayment of <br /> the loan,and <br /> 3. to place said pledged revenues in a special account separate and apart from other District revenues,and <br /> 4. to make the annual payments required by the Promissory Note and to make annual deposits to a debt service reserve <br /> fund,and <br /> 5. to pledge the maintenance fund assessment revenues backed by a rate covenant and annual financial reporting as <br /> security for the loan,and <br /> 6. to execute all documents as required by the Loan Contract, including, but not limited to, a Promissory Note and <br /> Security Agreement,and <br /> 7. to take such other actions and to execute such other documents as may be necessary to consummate and implement <br /> the loan. <br /> CERTIFICATION <br /> THE UNDERSIGNED,THE PRESIDENT AND THE SECRETARY HEREBY CERTIFY THAT THE FOREGOING ARE TRUE <br /> AND CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A MEETING OF THE DISTRICT'S BOARD OF <br /> DIRECTORS DULY CALLED AND HELD AS ABOVE RECITED, PURSUANT TO THE DISTRICT'S BYLAWS,AND THAT <br /> SAID RESOLUTIONS HAVE NOT BEEN AMENDED OR RESCINDED. <br /> GIVEN UNDER OUR HANDS AND THE SEAL OF THE DISTRICT THE 15TH DAY OF AUGUST,2018. <br /> (SEAL) <br /> B <br /> �j Signature <br /> ATTEi / <br /> By �� � �����/� TITLE: DONNA PHILLIPS,President <br /> Signature <br /> Name: Roger O'Hara DATE: August 15,2018 <br /> Title:Secretary <br /> DATE: AUGUST 15,2018 <br /> Appendix 4 <br /> Page 1 of 1 <br />