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<br />....... .... <br />'", <br /> <br />. <br /> <br />. <br /> <br />IT IS THEREFORE RESOLVED AND ORDERED that West Divide is <br />authorized to contract this subject loan and to borrow the <br />principal sum of $70,000 and to repay the indebtedness therein and <br />is authorized to grant the security interest required by Colorado <br />pursuant to the Contract. <br /> <br />IT IS THEREFORE RESOLVED AND ORDERED that West Divide is <br />authorized to make and levy assessments or otherwise raise revenues <br />sufficient to payoff the Contract loan pursuant to its terms and <br />to discharge this lawful indebtedness; and is authorized to set <br />aside these revenues in a special fund separate and apart from <br />other West Divide revenues in favor of Colorado to assure repayment <br />of this revenue to Colorado; and is authorized to sign a security <br />interest in such assessment revenues in favor of Colorado to secure <br />repayment. <br /> <br />PASSED AND ADOPTED UNANIMOUSLY BY A ROLL CALL VOTE WITH FOUR <br />OF THE FIVE DIRECTORS BEING PRESENT AND VOTING this 29th day of <br />May, 1991. <br /> <br />WEST DIVIDE WATER <br />CONSERVANCY DISTRICT <br /> <br />t1d ~ Il~ . t~<(,., <br /> <br />Carl H. Bernklau <br />President <br /> <br />ATTES,T: <br />. ... oJ "..... ~ <br /> <br />~.~~~ <br />-Secretary' - . ~ - <br />........ .-....: <br />- . ..... <br /> <br />/. <br /> <br />:....... <br />, '~ <br />, / <br /> <br />2 <br />