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<br />RESOLUTION NO.~~~j~f; <br />SERIES OF 1995 <br /> <br />A JOINT RESOLUTION OF THE BOARD OF DIRECTORS OF THE CASTLE PINES <br />NORTH METROPOLITAN DISTRICT AND THE CASTLE PINES NORTH <br />METROPOLITAN DISTRICT WATER ACTIVITY ENTERPRISE. <br /> <br />A resolution <br />Metropolitan <br />Metropolitan <br />approving a <br />("CWCB") . <br /> <br />of the Board of Directors of the Castle pines North <br />District ("District") and the Castle Pines North <br />District Water Activity Enterprise ("Enterprise") <br />loan from the Colorado Water Conservation Board <br /> <br />WHEREAS, the <br />Enterprise, which is <br />~ 37-45.1-102 C.R.S., <br />Article X, Section 20 <br /> <br />District has established and owns <br />a water activity enterprise as defined <br />and which is an enterprise for purposes <br />of the Colorado Constitution; and <br />; <br /> <br />the <br />by <br />of <br /> <br />WHEREAS, two of the three water wells providing water to the <br />District's residents need rehabilitation; and <br /> <br />WHEREAS, the District and the Enterprise have applied to the <br />CWCB for a loan in the amount of Three Hundred One Thousand Five <br />Hundred Dollars ($301,50~ to help pay for the rehabilitation of <br />said water wells; and ; <br /> <br />WHEREAS, the District has been approved for a loan in the <br />amount of Three Hundred One Thousand Five Hundred Dollars <br />($301,500) at five percent (5%) interest per annum for a maximum <br />period of fifteen (15) years by the CWCB at its November 4, 1994, <br />board meeting and by the State legislature under Section 1 of <br />HB 95-1155; and <br /> <br />WHEREAS, the District will use the loan proceeds as follows: <br />Two Hundred One Thousand Dollars ($201,000) for rehabilitation of <br />Wells A-I and A-2, and One Hundred Thousand Five Hundred Dollars <br />($100,500) for repayment of emergency loan #C153694 from the CWCB. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br />THE CASTLE PINES NORTH METROPOLITAN DISTRICT AND THE CASTLE PINES <br />NORTH METROPOLITAN DISTRICT WATER ACTIVITY ENTERPRISE, THAT: <br /> <br />1. The District and the Enterprise shall be <br />enter into a contract with the CWCB for this <br />substantially the form attached hereto, and <br />indebtedness. <br /> <br />authorized <br />loan debt <br />to pay <br /> <br />to <br />in <br />the <br /> <br />APPENDIX 8 <br /> <br />12/1B/95-pss <br />C:\WPDOCS\CASTLE\CWCB2.RES <br />