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<br />. <br /> <br />. <br /> <br />RESOLlfrlON OF <br /> <br />Tl€ tf)L0MtlQ lMtTER ~nON BOAAD <br /> <br />The Colorado ~ater Conservation Soard recognizes the fOllowing: <br /> <br />1. Thl! City of Fruita and the Colorado Water Conse,'vation Board <br />entered into two contracts dated May I, J982 (~8JI6) and December <br />J, 1982 (1I832: 3), ("Contr acts") . P"rsuant to the Contracts, the <br />City of Fruita promised to convey its domestic water system. as <br />set forth in Par..graphs 5 of the Contracts, ("System"). to the <br />Colorado ~ater Conservation Eoard as security for repayment of the <br />Contracts. <br /> <br />2. <br /> <br />Ey virtue of agreement <br />("Ute") dated December 27. <br />sy~tem with that of Ute. <br /> <br />with the Ute Water Conservancy District <br />1983, The City of Fr~ita merged its <br /> <br />3. pursuant to 8.21 of the Fruita City Charter, The City of Fruita <br />may. by ordinance, issue securities made payable from revenue <br />derived from sales taxes. <br /> <br />~. The Colorado Water Conservation Soard determines and finds that <br />the City of Fruita has the ability to pledge its sales ~ax <br />revenues and. further, that the pledge of sales tax revenues <br />COnstitutes sufficient and adequate security for the Contracts all <br />in accordance with ColoradO Revised Statutes Sections 37-bO-119 <br />and 37-bO-120. <br /> <br />NOW THEREFORE, the ColoradO Water Conservation Board resolves to <br />release all its right, title and interest in and to the property described <br />in Paragraph 5 of Contract #8166 dated May I. 1982 and in Paragraph 5 of <br />Contract #83213 dated December I, 1982 both being contracts between the <br />Colorado Water Conservation Board and the City of Fruita. This Resolution <br />is contingent upon the City of Fruita legally ordaining the issuance of <br />securities made payable from revenue derived from sales taxes to secure <br />performance of the Contracts. The issuance of said securities shall be <br />Subject to all prior pledges of said revenue existing at the time of this <br />Resolutlo1'\. <br /> <br />Dated this <br /> <br />day of <br /> <br />.. 1989. <br /> <br />COLORADO I.ATER CON5ERVATI ON BOARD <br /> <br />Ey <br /> <br />A1'TEST: <br />