Laserfiche WebLink
<br />, ~ <br /> <br />RESOLUTION <br /> <br />WHEREAS, Michigan River Water Conservancy District (the <br />District) desires to enter into a contract to borrow money <br />from the State of Colorado (the State) for the purpose of <br />consolidating two (2) existing loans, together with the <br />advancement of an additional Two Hundred Thousand and no/lOO <br />Dollars ($200,000.00), for a total loan amount of One Million <br />One Hundred Three Thousand Two Hundred and no/lOO Dollars <br />($1,103,200.00), for the benefit of the District and its <br />water contract allottees; and <br /> <br />WHEREAS, as a condition for loan approval by the State, <br />the District needs to affirm and ratify a previous Warranty <br />Deed conveyance from the District to the State of an <br />undivided forty-three hundredths (43/100) interest in and to <br />the Meadow Creek Darn Project facilities, together with a <br />forty-three hundredths (43/100) interest in Grantor's <br />interests in all inlet and outlet ditches and structures <br />appurtenant thereto, including all water storage rights and <br />lands on which structures are located as security for the <br />loan. ' <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors <br />of the District as follows: <br /> <br />1. The District is authorized to sign a contract with <br />the State to borrow One Million One Hundred Three Thousand <br />Two Hundred and no/l00 Dollars ($1,103,200.00) for the <br />benefit of the District and its water contract allottees. <br /> <br />2. That the previous action of the District which <br />conveyed by Warranty Deed from the District to the State an <br />undivided forty-three hundredths (43/100) interest in and to <br />the Meadow Creek Darn project facilities, together with a <br />forty-three hundredths (43/100) interest in Grantor's <br />interests in all inlet and outlet ditches and structures <br />appurtenant thereto, including all water storage rights and <br />lands on which structures are located is hereby affirmed and <br />ratified by the District. Said Warranty Deed is dated <br />February 26, 1981, and was recorded with the Jackson County <br />Clerk and Recorder on March 16, 1981. <br /> <br />3. That said affirmation and ratification is provided <br />by the District as a condition for loan approval by the State <br />and for the purpose of granting the State security for such <br />loan. <br /> <br />EXHIBIT "D" <br />