PROJC01289

• Contract/PO #: C153700
• Contractor Name: Norwood, Town of and Norwood Water Commission
• Contract Type: Loan
• Water District: 60
• County: San Miguel
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

TOWN OF NORWOOD BOARD OF TRUSTEES
October 1995
RESOLUTION #1019, Series 1995

Concerning a suppl emental loan in the amount of $630,000
(LOAN) from the state of Colorado Water Conservation Board (STATE),
for the purpose of designing and building a 92.acre-foot reservoir,
for a total amount borrowed of $950,000. The following resolutions
are adopted and are necessary for ful fi 11 ing contracting
requirements of the state, and are irrepealable during the term of
the Loan Contract #C153700, as amended.

RESOLVED, that the TOWN and the COMMISSION is authorized to
enter into and to comply with all the terms of the contract, as
amended, with the STATE;

RESOLVED, that the COMMISSION shall fix and collect water
user charges and fees sufficient to payoff the LOAN, and shall set
aside the revenues collected for such charges and fees in a special
account, separate and apart from other revenues of the COMMISSION,
in an amount sufficient to pay each of the annual installments of
the LOAN;

RESOLVED, that the TOWN and the COMMISSION shall convey a
security interest in the revenues pledged to secure payment to the
STATE;

RESOLVED, that the COMMISSION 1S authorized to repay the LOAN
to the STATE;

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NOW THEREFORE BE IT RESOLVED, that I, JUNE S. ESTEP, Mayor of
Board of Trustees of Norwood, Colorado, do hereby certify that
above was approved by the Board of Trustees by a vote of 5
o on the 20th day of October, 1995.

Those voting yes and certifying the question were as follows:
Dmoll Cm, T,.,t" ~7Jd..
Autumn Crutcher, Trustee____-----------------~

John Mansfield, Trustee

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Chris Romaine, T~ustee

Ralph Weaver, Protem

Marsha West, Trustee

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~ F'\ 1 ,JunE' ,5. Est ef'.
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ATTACHMENT 1

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