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<br />) <br /> <br />RgSOLUTION OF THE BOARD OF DIRECTORS <br />OF THE <br />LOWER ARKANSAS WATER MANAGEMENT ASSOCIATION <br /> <br />Concerning a loan in the amount of up to $2,400,000 from the State <br />of COlorado Water Conservation Board (hereafter referred to as the <br />eWCB) , for the purpose of purchasing water rights; the following <br />resolutions were adopted by the Board of ::>irectors of The Lower <br />Arkansas Water I>-lanagement Association (hereafter referred \;0 as the <br />Association), at a meeting of the Board of Directors held <br />{,,{o.u/ 10, 1937, at //l~frl/::__, <br />C61oradu. <br /> <br />d. RESOLVED, that the Board of Directors hereby authorizes <br />tbe AOBociation to contract with the CWCB for this loan deb\::, <br />and authorizes the President and the Secretary to pay the <br />indebtedness On behalf of the Borrower. ar.d <br /> <br />l,. RESOLVED, that the Board of Directors hereby authorizes <br />the Association to make and levy assessment(s) sufficient to <br />repay this loan pursuant to the terms of the contract and to <br />discharge this lawful indebtedness, and <br /> <br />c. RESOLVED, that the Board of Directors hereby authorizes <br />the Association to set as.ide this assessment revenue in a <br />8fecial fund separate and apart from other.Borrower revenues <br />toCassure payment of this revenue to the ewes, and <br /> <br />d. RESOLVED,. that the Board of Directors hereby authorizes <br />the Association to execute any documents which may be <br />necessary to effectuate this resolution. <br /> <br />!/, <br />Dated this ~ day of April, 1997 <br /> <br />A'''''' ~ <br />.dr'?<,~6/n C-'- <br />( Secretary1 <br />/ <br /> <br />The Lower Arkansas Water Management <br />ASBociation 4 <br /> <br />B;r' h~,f ~ <br /> <br />T:J.tle: VICZ;;.-if'c5ti:YcNT <br /> <br />, <br /> <br />APPENDIX A <br /> <br />Appendix 1 to Loan Contract #C153768 <br />