|
<br />EAST DILLON WATER DISTRICT
<br />RESOLUTION AUTHORIZING EXECUTION AND DELIVER OF
<br />A LOAN CONTRACT
<br />
<br />WHEREAS, the EDWD, in Summit County, Colorado, is a quasi-municipal corporation
<br />duly organized and existing as a water district under the constitution and laws of the State of
<br />Colorado; and
<br />
<br />WHEREAS, the EDWD was authorized, pursuant to a regular election ofthe qualified
<br />electors for the EDWD, duly called and held Tuesday, May 7, 2002 to incur indebtedness in the
<br />aggregate principal amount of$2,550,000, with a repayment cost of$5,856,550 for the purpose
<br />of purchasing water rights and well; and
<br />
<br />WHEREAS, the Department of Natural Resources, Colorado Water Conservation Board.
<br />("CWCB) has issued its loan commitment to finance a loan to the East Dillon Water District
<br />("EDWD") to fund the acquisition of water rights according to Purchase Agreements with the
<br />Vidler Water Company, Inc. ("Vidler") and the City of Golden; and
<br />
<br />WHEREAS, the Board has determined that it is in the best interest of the residents of the
<br />District to close the Purchase Agreement with Vidler with funds obtained from the CWCB
<br />according to the terms of the loan commitment.
<br />
<br />NOW THEREFORE, be it resolved by the EDWD as follows:
<br />
<br />1. The EDWD Board of Directors hereby authorize and direCt the President, Bruce
<br />Farrell, and the Secretary, J an Geiss, to execute and deliver on behalf of the EDWD a Loan .
<br />Contract, Promissory Note, Pledge of Revenues and such other documents referenced in the loan
<br />commitment and required to obtain the CWCB loan and to close the purchase ofthe Vidler
<br />Purchase Agreement.
<br />
<br />2. This resolution was authorized by all the members of the Board at its regular
<br />meeting on May 16, 2002 and will remain in effect until closing pf the CWCB .loan and the
<br />Water. Rights Purchase Agreements, ..'
<br />:::., ~// / .
<br />v'5VCZic.( ;L~~'; /!A, /;~
<br />... l}ruce.F.jU1ell, P1:esident. . { Date
<br />/.1/ /, "-./\, '
<br />, /,~ N
<br />ela,'Oberriter, VicecPresident . Date
<br />
<br />
<br />.dlrf:r~ ....lVOt!'~ oi
<br />,Date
<br />
<br />
<br />
<br />iV' ,C"'.-, . - .
<br />'-... I'.'. f,' ""." c-
<br />y....-"-rL(~?t:....J{.,.,..J:J
<br />Jan Geiss,Secretary
<br />
<br />'li~!OL
<br />,.ate' . . '
<br />
<br />; "".'< j:-"
<br />
<br />":-'-"
<br />
<br />'.": .
<br />
<br />.t._./.
<br />
<br />,'.;:;":':
<br />
<br />f\
<br />
<br />" <.
<br />
<br />'. ~
<br />
<br />_' 'i ~,
<br />
<br />"; '.' ,',
<br />
<br />(SEAL);
<br />
<br />',"
<br />
<br />,;::,:'"
<br />
<br />,I
<br />"
<br />
<br />Appendix 3 to Loan Contract C1501 00 .
<br />
|