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<br />'.'~ <br /> <br />.'-.""",' <br />, " <br /> <br />IT IS THEREFORE RESOLVED AND ORDERED that West Divide is <br />authorized to contract this subject loan and to borrow the <br />principal sum of $70,000 and to repay the indebtedness therein and <br />is authorized to grant the secu~ity interest required by Colorado <br />pursuant to the Contract. <br /> <br />IT IS THEREFORE RESOLVED AND ORDERED that West Divide is <br />authorized to make and levy assessments or otherwise raise revenues <br />sufficient to' pay off the Contract loan pursuant to its terms and <br />to discharge this lawful indebtedness; and is authorized to set <br />aside these revenues in a special fund separate and apart from <br />other West Divide revenues in faVor of Colorado to assure repayment <br />of this revenue to Colorado; and is authorized to sign a security <br />interest in such assessment revenues in favor of Colo~ado to secure <br />repayment. <br /> <br />PASSED AND ADOPTED UNANIMOUSLY BY A ROLL CALL VOTE WITH FOUR <br />OF THE FIVE DIRECTORS BEING PRESENT AND VOTING this 29th day of <br />May, 1991. <br /> <br />WEST DIVIDE WATER <br />CONSERVANCY DISTRICT <br /> <br />!ld~ /1,J .t~~, <br /> <br />Carl H. Bernklau <br />President <br /> <br />ATTEST,: <br /> <br />, '., <br />, " <br /> <br />~~.~~~. <br /> <br />Secretary <br /> <br />I, <br /> <br />,. :i~j) <br />.._;;;~:.':.~ 6-" <br />,;-~ <br /> <br />.;.1."-' <br /> <br />~~ ..< <br /> <br />2 <br />