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<br />" <br />. <br /> <br />~ ~- <br />:\,-) I . ': <br /> <br />6. The District is authorized to repay the loan under the Loan Contl'llct and Promissory Note to <br />the CWCB. . <br /> <br />-) <br /> <br />7. The District is authorized to pledge revenue. from taxes and asse&smentlllevied for that <br />purpose and from the sala of water and power for repayment of the CWCS Loan and to execute a <br />Security Agreement to convey a security interest in said revenues to the CWCS. Said pledge of <br />revenues shall creete e lien in favor the CWCS on said revenue5 which shall be on a parity with the <br />lien of the District's General Obligation IUmited Tax) Water Conservancy Refunding Bonds. Series <br />1993. <br /> <br />~~ <br />. <br />,-:.". <br /> <br />8. The District is authorized to levy and collect taxes and assessments and to establish and <br />collect rates and Charges for the sale of water lInd power in emounts sufficient to repay the CWCS <br />..., <br />loan. and to establish an account separate and apart from other District revenue. into which it shall <br />set aside revenues from said taxes and assessments and from the sale of wat;- and power in an <br />amount sufficient to pay each annual installment due under the loan Contract. <br /> <br />9. The District Is authorized to establish a debt service reserve fund by making an annual <br />~ , deposit equivalent to one-tenth (1110) of an annual loan payment 1.15.375.23) for the first ten <br />J years of the term of the Loan. and to replenish said fund anytime it is depleted. <br /> <br />10. The District is authorized to establish a certificate of deposit account In the amount of <br />$150,000 to be held in the office of the Colorado State Treasurer as security for the loan. to <br />replenish such account within sixtY days of any withdrawal by the CWeB. and to execute an <br />Assignment of Certificate of Deposit to convey a security interest in said ceniflcate of deposit <br />account to the CWCS. <br /> <br />('\ <br />..J <br /> <br />RESOLVED this 16th day of July, 1997. <br /> <br />UPPER YAMPA WATER CONSERVANCY <br />DISTRICf <br /> <br />By: <br /> <br /> <br />L <br /> <br />By: <br /> <br /> <br />~ <br />V <br />