My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C150108 Contract
CWCB
>
Loan Projects
>
Backfile
>
1001-2000
>
C150108 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/25/2013 10:38:43 AM
Creation date
10/6/2006 12:19:27 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150108
Contractor Name
Delta Canal Company, The
Contract Type
Loan
Water District
40
County
Delta
Bill Number
MC3
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />- <br /> <br /> <br />RESOLUTIONS OF THE BOARD OF DIRECTORS <br />OF THE DELTA CANAL COMPANY <br /> <br />The Board of Directors of The Delta Canal Company (Company), a meeting held <br />M. v. ?"cJ , 2002, at Delta, Colorado, adopted the following resolutions concerning a <br />secured loan from the State of Colorado Water Conservation Board (CWCB), for the purpose <br />of rehabilitation of the Delta Canal system, in the amount of $75,000 or such actual amount, <br />more or iess, as may be needed by the Company and available from the CWCB. <br /> <br />At said meeting, the Board charged that these resoiutions are irrepealable during the term of <br />the loan and, pursuant to the Company's bylaws, authorized the President and Corporate <br />Secretary, RESOLVED as follows. <br /> <br />1. to enter into and comply with the terms of a contract with the Colorado Water Conservation <br />Board for a loan in the amount of $75,000, or such actual amount, more or iess, as needed <br />to finance the project costs, and <br /> <br />2. to levy and collect assessments from the shareholders in an amount sufficient to pay the <br />annual amounts due under the Loan Contract, and to pledge assessment revenues and the <br />Company's right to receive said revenues for repayment of the loan, and <br /> <br />3. to place said pledged revenues in a special account separate and apart from other <br />COMPANY revenues, and <br /> <br />4. to make the annual payments required by the promissory note and to make annual deposits <br />to a debt service reserve fund, and <br /> <br />5. to execute a deed of trust to convey a security interest to the CWCB in the Company's <br />canal and individual headgates rehabilitated with the CWCS loan, and <br /> <br />6. to execute all documents as required by the loan contract, including, but not limited to, a <br />Security Agreement and a Promissory Note, and <br /> <br />7. to take such other actions and to execute such other documents as may be necessary to <br />consummate and implement the loan. <br /> <br />CERTIFICATION <br /> <br />THE UNDERSIGNED, THE PRESIDENT AND THE CORPORATE SECRETARY, RESPECTIVELY, HEREBY <br />CERTIFY THAT THE FOREGOING ARE TRUE AND CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A <br />MEETING OF THE COMPANY'S BOARD OF DIRECTORS DULY CALLED AND HELD AS ABOVE RECITED, <br />PURSUANT TO THE COMPANY'S BYLAWS, AND THAT SAID RESOLUTIONS HAVE NOT BEEN AMENDED OR <br />RESCINDED. <br />GIVEN UNDER OUR HANDS AND THE SEAL OF THE COMPANY THE I' O(~ DAY OF ~<2K1IIt.... 2002. <br /> <br />By <br /> <br /> <br />(SEAL) <br />ATTEST: <br /> <br /> <br />Appendix 3b to Loan Contract C150108 <br />
The URL can be used to link to this page
Your browser does not support the video tag.