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<br />. <br /> <br />ep <br /> <br />5. The Company is authorized to execute and perfect a <br />security interest in the form provided by the state in the <br />revenues resulting from the assessment(s) levied for the purpose <br />of repayment of the contract loan to the State. That security <br />interest shall be signed by the President and the Secretary. <br />That security interest shall be deemed to include any future <br />assessment revenues obtained for repayment of the contract loan. <br />The company shall insure that tne State has priority interest in <br />such revenues. <br /> <br />6. The Company is authorized to establish a separate fund <br />account in the Company name and in the name of "the State of <br />Colorado, for the use and benefit of the Colorado Water Conser- <br />vation Construction Fund" at a $tate or national bank or savings <br />and loan association insured by the federal government, and to <br />deposit in such account all revenues resulting from the assess- <br />ment(s) made to repay the contract loan to the State, and to pay <br />such monies to the State as reqUired by the contract. The <br />Company shall insure that these revenues are not used for any <br />other purpose. <br /> <br />INTRODUCED, READ, PASSED AND ADOPTED AT A SPECIAL MEETING <br />THIS ?hH. DAY OF OrtnnPT ,1988. <br /> <br />orJ:~ :1. ~ k; i~. <br />D ector <br /> <br />~~'vJ'~~ <br />Direc or <br /> <br />:?V'k,jO ~t._- <br />D~rector <br /> <br />Approved as to form: <br /> <br />'~"'i'~~ r;~L Y <br /> <br />R. B. Fickel (6689) <br />Attorney for Ish Reservoir <br />Company <br /> <br />Director <br /> <br />~r",","",~~'" ~ <br /> <br />Director <br /> <br />\J. t'. <br /> <br />Director <br />