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<br />(:7;\ <br />~~:::) <br /> <br />of the Enterprise, in accordance with the pledge of revenues provisions of the Original Contract, as' <br />amended by the Contract Amendment. <br /> <br />5. The Board finds and determines, pursuant to g37-45-I39(1), C.R.S., that the annual <br />obligation created by the loan from CWCB to the Enterprise will not require a greater annual <br />expenditure than the annual income and revenue of the District and Enterprise is estimated to permit. <br /> <br />6. The Enterprise was established by resolution of the Board of Directors of the District <br />dated September 14, 1994. After the Contract Amendment is fully executed by all parties to it, said <br />resolution shall be irrevocable for the duration of the Original Contract, as amended by the Contract <br />Amendment, and the Enterprise shall remain in existence and shall not be terminated prior to full <br />repayment of the loan. <br /> <br />7. Should any part or provision of this Resolution be adjudged unenforceable or invalid, <br />such judgment shall not affect, impair, or invalidate the remaining provisions of this Resolution, it <br />being the intention that the various provisions hereof are severable. <br /> <br />8. After the Contract Amendment is fully executed by all parties to it, this Resolution <br />shall be irrepealable for the term of the Original Contract, as amended by the Contract Amendment. <br /> <br />The foregoing Resolution was duly adopted by the Board of Directors of the District and the <br />Enterprise on August 9, 2000. <br /> <br />UTE W ATERCONSERV ANCYDISTRlCT <br />and the <br />UTE WATER ACTIVITY ENTERPRlSE <br /> <br />ATTEST: <br /> <br />By <br /> <br />~Ae.~ <br /> <br />Santo Bertuzzi, S tary <br /> <br />By <br /> <br /> <br />H:\MAH\UTE\cwcb-res-S 10M. wpd <br /> <br />-3- <br /> <br />April 12, 2000 <br />