PROJ00033

• Contract/PO #: C153756
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Contract Documents

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RESOLUTION OF 'tHlt BOARD OF DIRECTORS
01" TIm
LOWll:R AlUOINSAS WAT)l:R MANAGEMENT ASSOCIA'l'ION

Concerning a loan in the amount of $65,000 from the State of
Colorado Water Conservation Board (hereafter referred to as the
CWCB), for the purpose of p:eeparing a Feasibility Study for a
substitute supply plan; the following resolutions were adopted by
the Boara of Directors of The Lower Arkansas Wat:er Management
Association (hereafter referred to as LAWMA), at a meeting of the
Board of Directors held 917 /l? ,1997, at Lamar, Colorado.

a. RESOLVED, that the Board of Directors hereby authorizes
LAWMA to contract for this loan debt, and authorizes the
President and the secretary to pay the indebtedness on
behalf of LAWMA, and

b. RESOLVED, that the Board of Directors hereby authorizes
LAWMA to execute the deed of trust as security required
by the CWCB, as specified in the Deed of Trust provisions
of such contract, and

c. RESOLVED, that the Board of Directors hereby authorizes
LAWMA to make and levy assessment(s) sufficient to pay
off this contract loan pursuant to its terms and to
discharge this lawful indebtedness, and

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d. RESOLVED, that the Board of Directors hereby authorizes
LAWMA to set, aside such assessment revenue in a special
fund separate and apart from other LAWMA revenues to
assure payment of this revenue to the CWCB, and

e.

RESOLVED, that the Board of Directors hereby authorizes
LAVINA to sign a security interest in such assessment
revenues in favor of the CWCB to secure the repayment.

Dated this ~ay of

f}1J

, 1997.

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THE LOWER ARKANSAS WATER MANAGEMENT
,.SOCIATTON ~

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Appendix B to Loan Contract C153756

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