PROJC00276

• Contract/PO #: C153697
• Contractor Name: Norwood, Town of and Norwood Water Commission
• Contract Type: Loan
• Water District: 60
• County: San Miguel
• Bill Number: FSL
• Loan Projects - Doc Type: Contract Documents

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TOWN OF NORWOOD
BOARD Op TRUSTEES

RESOLUTION: jf()112 SERIES 1995

RATIFICATION OF NORWOOD WATER COMMISSION AS
WATER ACTIVITY ENTERPRISE FUND

WHEREAS, the Board of Trustees of the Town of Norwood (the "Town")
hereby finds, determines, and declares that it is necessary and desirable to
ratify the Town's establishment in 1993 of the Town of Norwood Water Activity
Enterprise Fund (the "Norwood Water Commission"); and

WHEREAS, C.R.S. ~ 37-1>5.1-101 tl ~., enacted into law on March 30, 1993,
clarifies the terms and conditions under which a municipality may establish a
Water Activity Enterprise Fund.

NOW, THEREFORE, BE IT RESOLVE,D, that the Board of Trustees of the Town
hereby ratifies the establishment of the Town of Norwood - Water Activity
Enterprise, the Norwood Water Commission, created for the purpose of pursuing
and continuing water activities. in connection with the provision of water to the
Town and the rural Wright's Mesa area, including water acquisition and the
construction, operation, repair, and rEiplacement of water facilities; and

BE IT FURTHER RESOLVED, that, pursuant to and in accordance with Article
1>5.1 of Title 37, C.R.S., the governing body of the Norwood Water Commission is
as set forth in the agreement among the Town of Norwood, the Wright's Mesa
Rural Water System and the San Miguel Water Conservancy District dated
December 23, 1992; and

BE IT FURTHER RESOLVED, that the Norwood Water Commission is entitled
to exercise all powers, authority, rights, and responsibilities. which are
exercisable by it in accordance with Article 1>5.1 of Title 37, C.R.S., and other
applicable law; and

BE IT FURTHER RESOLVED, that all assets and liabilities of the Norwood
Water Commission shall be accounted f<Jr in the Town of Norwood - Water Activity
Enterprise Fund; and

BE IT FURTHER RESOLVED, that the Board of Trustees of the Town ratifies
the authorization of the transfer of assets, liabilities and contractual rights to
the Norwood Water Commission in accordance with Article 1>5.1 of Title 37, C.R.S.;
and

BE IT FURTHER RESOLVED, the Board of Trustees of the Town ratifies the
authorization of the Norwood Water Commission to borrow funds for water
acquisition and the operation, repair, replacement and construction of Norwood
Water Commission facilities.

APPENDIX A