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<br />..,....'\ <br />\'.. ) <br /> <br />G. CWCB, the District and the Enterprise desire to amend the Original Contract to <br />document the additional loan of$IO,OOO,OOO.OO, resulting in an authorized loan amount under the <br />Original Contract in the total amount of$17 ,000,000.00, and to update certain clauses ofthe Original <br />Contract. <br /> <br />NOW, THEREFORE, THE BOARD OF THE DISTRICT AND OF THE ENTERPRISE <br />RESOLVE AS FOLLOWS: <br /> <br />I. Attached hereto as Exhibit I is a copy of Contract Amendment No. I between CWCB <br />and the District and the Enterprise, which amends the Original Contract, and which relates to the <br />loan of the additional arnount of $1 0,000,000.00 to the Enterprise for the Project and the updating <br />of certain clauses of the Original Contract (the "Contract Amendment"). Attached to the Contract <br />Amendment are forms of a Promissory Note (the "Promissory Note") and an Amended Security <br />Agreement (the "Amended Security Agreement"). The Original Contract, Contract Amendment, <br />the Promissory Note, and the Amended Security Agreement may hereafter be collectively referred <br />to as the "Project Loan Documents". <br /> <br />2. The Board hereby authorizes the District and the Enterprise to enter into the Contract <br />Amendment, and authorizes the President and the Secretary of the Board to execute the Contract <br />Amendment on behalf ofthe District and the Enterprise. The Board further authorizes the Enterprise <br />to enter into the Promissory Note and Amended Security Agreement, and authorizes the President <br />and the Secretary of the Board to execute such documents on behalf of the Enterprise. <br /> <br />3. Once all of the Project Loan Documents have been executed by the President and <br />Secretary of the Board, the officers and employees of the District and Enterprise shall be authorized <br />to and are directed to take all actions required of and to comply with and perform all obligations of <br />the District and the Enterprise, as set forth in the Project Loan Documents. <br /> <br />4. During the term ofthe loan evidenced by the Project Loan Documents, the Enterprise <br />is further authorized to: <br /> <br />A. Establish and collect water user charges, rates and fees ("water system <br />revenues") in amounts sufficient to repay the loan evidenced and secured by the Project Loan <br />Documents; <br /> <br />B. Make the annual payments in accordance with the Promissory Note; <br /> <br />C. Pledge water system revenues to repay the loan evidenced and secured by the <br />Project Loan Documents, and to execute and deliver to CWCB the Amended Security Agreement; <br />and <br /> <br />D. Set aside sufficient water system revenues each year to pay the annual <br />installment due on the Promissory Note in a special account, separate and apart from other revenues <br /> <br />K\MAH\UTE\cwcb-res-S I OM.wpd <br /> <br />-2- <br /> <br />April 12. 2000 <br />