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<br />'~\'~ <br />~,~:~<~'J <br /> <br />-. p'.""" <br /> <br />LOOKOUT MOUNTAIN WATER DISTRICT <br />RESOLUTION <br />A RESOLUTION TO CONTRACT FOR A LOAN PURSUANT <br />TO A PROJECT CONTRACT WITH THE COLORADO <br />WATER CONSERVATION BOARD AND TO ISSUE A <br />WATER REVENUE BOND OF THE DISTRICT IN THE <br />MAXIMUM PRINCIPAL AMOUNT OF $600,000, FOR <br />THE PURPOSE OF IMPROVING THE UPPER BEAVER <br />BROOK DAM AND WATER STORAGE RESERVOIR #3A OF <br />THE DISTRICT; APPROVING SAID PROJECT <br />CONTRACT AND PRESCRIBING THE FORM OF SAID <br />BOND AND PROVIDING FOR WATER SYSTEM REVENUE <br />TO PAY THE LOAN AND THE BOND AND THE <br />INTEREST THEREON, AND PROVIDING OTHER <br />DETAILS IN CONNECTION THEREWITH. <br /> <br />WHEREAS, the Lookout Mountain Water District (the <br /> <br /> <br />"District") presently owns and operates a water system for the <br /> <br /> <br />District and its inhabitants; and <br /> <br />WHEREAS, the Board of Directors of the District (the <br /> <br /> <br />"Board") has determined that it is necessary to make certain <br /> <br /> <br />modifications and improvements to the District's Upper Beaver <br /> <br /> <br />Brook Dam and Reservoir #3A (the "Project"); and <br /> <br /> <br />WHEREAS, the total estimated cost is approximately <br /> <br /> <br />$1,200,000 and the Board has further. determined that it is <br /> <br />necessary to issue a water revenue bond of the District in an <br /> <br />amount not to exceed $600,000 (the "Bond") for the purpose of <br />partially financing such cost; and <br /> <br />-1- <br /> <br />st.1J= A <br />