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RESOLUTION <br />Resolution No. 2003-B <br />A RESOLUTION OF THE SiLT WATER CONSERVANCY DISTRICT WATER <br />ACTNITY ENTERPRISE, AUTHORIZING AND APPROVII�G A LOAl� BETWEEN <br />THE ENTERPRISE AND THE COLORADO WATER CONSERVATION BOARD. <br />WHEREAS, the 5ilt Water Conservancy District ("DistricY') established the Silt <br />Water Conservancy District Water Activity Enterprise ("Enterprise") as authorized and <br />referenced in Section 37-45.1-101, et seq., of the Colorado Revised Statutes (2002), and <br />Article X, Section 20 of the Colarado Constitution; and <br />WHEREAS, the Colorado Water Conservation Board ("CWCB") has agreed to <br />extend a loan of $486,OOO.QO to the Enterprise to help finance replacement of the pump <br />plant transformer that powers the pump delivering water from the Colorado River to <br />the Pump Canal; and <br />WHEREAS, the Enterprise is authorized and empowered by Section 37-451-104, <br />C.R.S. (2002) to incur indebtedness in the performance of its operations; and <br />WHEREAS, the loan to the Enterprise will not constitute a debt of the District <br />within the meaning of any constitutional or statutory provision or limitation; and <br />WHEREAS, the loan is to be repaid exciusively from revenues generated and <br />collected from water system service fees, rates and charges; 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 />WHEREAS, the Enterprise desires to approve the CWCB loan and undertake <br />those commitments and actions necessary to effectuate and implement the same. <br />NOW, THEREFORE, BE IS RESOLVED BY THE SILT WATER <br />CONSERVANCY DISTRICT WATER ACTIVITY ENTERPRISE, AS FOLLOWS: <br />