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RESOLUTION <br />Resolution No. 2003-A <br />A RESOLUTION OF THE SILT WATER CONSERVANCY DISTRICT <br />AUTHORIZING AND ENDORSING A LOAN BETWEEN THE SILT WATER <br />CONSERVANCY DISTRICT WATER ACTIVITX ENTERPRISE AND THE <br />COLORADO WATER CONSERVATION BOARD. <br />WHEREAS, the Silt Water Conservancy District ("DistricY`) has established the <br />Silt Water Conservancy District Water Activity Enterprise ("Enterprise") as authorized <br />and referenced in Section 37-45.1-101, et seq., of the Colorado Revised Statutes (2002), <br />and Article X, Section 20 of the Colorado Constitution; and <br />WHER6AS, the Colorado Water Conservation Board ("CWCB") has agreed to <br />extend a loan of $486,000.00 to the Enterprise to help finance the replacement of the <br />pump plant transformer that powers the pump delivering water from the Colorado <br />River to the Pump Canal; and <br />WHEREAS, the Enterprise is authorized and empowered by Section 37-45.1-104, <br />C.R.S. (2002) to incur indebtedness in the performance of its operation; and <br />WHEREAS, the loan as extended to the Enterprise will not constitute a debt of <br />the District within the meaning of any constitutional or statutory provision or <br />limitation; and <br />WHEREAS, the loan is to be repaid exclusively from revenues generated and <br />collected from water system service fees, rates and charges; and <br />WHEREAS, the water system service fees, rates and charges shall be established <br />by the Enterprise; and <br />WHEREAS, the District, through the operation of the Enterprise, is to maintain <br />separate and distinct records and funds respective to Enterprise expenditures and <br />revenues; and <br />Appendix 3 to Loan Contract C150135 <br />