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<br />. " \ <br /> <br />,~ . <br /> <br />RESOLUTION <br /> <br />I. Loan Contract. The Board approves the Loan Contract in the form attached to <br />this Resolution and authorizes and directs the appropriate OMID officers and employees to take <br />all actions and sign all documents necessary to enter into and comply with that contract. <br /> <br />2. Proiect A\lreement. The Board approves the Project Agreement in the form <br />attached to this Resolution and authorizes and directs the appropriate OMID officers and <br />employees to take all actions and sign all documents necessary to enter into and comply with that <br />contract. <br /> <br />3. Contractor A\lreemenl. By this Resolution, the Board assigns all ofOMID's <br />rights to enter into the Contractor Agreement to MMLE. <br /> <br />4. Certificate of Deposit Loan. The Board authorizes and directs the appropriate <br />OMID officers and employees to take all actions and sign all documents necessary to loan <br />MMLE sufficient funds to enable MMLE to establish a Certificate of Deposit in accordance with <br />the terms of the Loan Contract. As security lor loaning MMLE these funds, OMID will require <br />MMLE to pledge the Certificate of Deposit to OMID. However, OMID will subordinate its <br />interest ill that Certificate of Deposit to the assignment of the Certificate of Deposit to the State <br />of Colorado pursuant to the Loan Contract, and the Board authorizes and directs the appropriate <br />OMID officers and employees to take all actions and sign all documents necessary to evidence <br />that subordination. <br /> <br />5. Irrepealable. Each of the above resolutions is irrepealable during the term of the <br />Loan Contract; provided, however, that OMID's performance of its duties and obligations under <br />the Project Agreement shall be subject to annual appropriations. <br /> <br />ADOPTED this 29th day of October, 1996. <br /> <br />----,/ <br />'.-:.:./:/;'- ,'t-n /, f.,-'? J. <br /> <br />.'J <br />/"/~e'J;' . <br /> <br /> <br /> <br />HERMAN BEARD <br /> <br />) /. ._~-/ <br />.' . -;--;}{ / /.., <br />J t...')_, ._~ ) - -.____ .....~-.,: <br /> <br />, <br /> <br />I . <br />.' . i ~ I <br />...( " .' <br />NORMAN FRIEND <br /> <br />-' <br /> <br />. .J..',I/ ".. I' <br />_ .. ( L.-v"-'\. <br />MELVIN RETTIG <br /> <br />./, ;--/,.. <br />!J "'.J.'! . I~ c'-;'/-,.. <br /> <br />, . -~- . <br /> <br /> <br />/ <br /> <br />2 <br />