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<br />.~ <br />/, ") <br /> <br />EXHIBIT "E" <br /> <br />RESOLUTION <br /> <br />WHEREAS, the State of Colorado ("State") is prepared to <br />loan Twenty Million Dollars ($20,000,000) to the Colorado River <br />Water Conservation District ("River District") for the construction <br />of the Ritschard Dam and Wolford Mountain Reservoir and associated <br />site-developments ("Project") pursuant to the authority' of S37-60- <br />119, c.R.S., and Section 6 of Chapter 326, Session Laws of Colorado <br />1991; and <br /> <br />WHEREAS, the River District <br />executed a Contract between the River <br />providing for the loan of Twenty Million <br />the construction of the Project; and <br /> <br />accepted, approved and <br />District and the State <br />Dollars ($20,000,000) for <br /> <br />WHEREAS, the River District and the City and County of <br />Denver, acting by and through its Board of Water Commissioners <br />("Denver") entered into an Agreement entitled "Rock Creek Reservoir <br />Lease Agreement", which is dated March 3, 1987, and the "Agreement <br />Amending the Lease Agreement," which is dated July 21, 1992; and <br /> <br />WHEREAS, a repayment schedule for the principle amount of <br />$20,000,000 is attached as Exhibit "B" to the Contract. <br /> <br />NOW THEREFORE BE IT RESOLVED by the Board of Directors at <br />its Fourth Quarterly Meeting held on October 20, 1992 at Glenwood <br />Springs, Colorado, that an irrevocable pledge of revenues received <br />from the "Lease Agreement" and the "Agreement Amending the Lease <br />Agreement" is made to meet the repayment schedule as set forth in <br />Exhibit "B" of the Contract between the State and the River <br />District. <br /> <br />EXHIBIT E <br />