PROJC01190

• Contract/PO #: C153678
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Contract Documents

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RESOLUTION OF THE BOARD OF DIRECTORS

OF THE

LOWER ARKANSAS WATER MANAGEMENT ASSOCIATION

Concerning a loan in the amount of $65,000 from the State, of
Colorado Water Conservation Board (hereafter referred to as the
State) , 'for the purpose of preparing a Feasibility Study for a
substitute supply plan; the following resolutions were adopted by
the Board of Directors of The Lower Arkansas Water Management
Association (hereafter referred to as the Borrower), at a meeting
of the Board of Directors held /-7 d ,'<" 1994, at
~~a~ , Colorado.

a. RESOLVED, that the Board of Directors hereby authorizes
the Borrower to contract for this loan debt, and authorizes
the President and the Secretary to pay the indebtedness on
behalf of the Borrower, and

b. RESOLVED, that the Board of Directors hereby authorizes
the Borrower to execute the deed of trust as security required
by the State, as specified in the Deed of Trust provisions of
this contract, and

c. RESOLVED, that the Board of Directors hereby authorizes
the Borrower to make and levy assessment(s) sufficient to pay
off this contract loan pursuant to its terms and to discharge
this lawful indebtedness, and

d. RESOLVED, that the Board of Directors hereby authorizes
the Borrower to set aside this assessment revenue in a special
fund separate and apart from other Borrower revenues to assure
payment of this revenue to the State, and

e. RESOLVED, that the Board of Directors hereby authorizes
the Borrower to sign a security interest in such assessment
revenues in favor of the State to secure the repayment.

d ' /,/:15
Date . thls ~ day of

,P'?J

, 1994

The Lower Arkansas Water Management
Association

ATTEST;t~ ~.
~ ~#~/_~

(Secretary)

APPENDIX B

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