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<br />RESOLUTION <br />(CWCB - $2,600,000 Contract Amendment) <br /> <br />The Board of Directors ("Board") of the Ute Water Conservancy District ("District"), and of <br />the Ute Water Activity Enterprise ("Enterprise"), at a regular meeting held on April 12, 2000, adopts <br />the following Resolution: <br /> <br />RECITALS <br /> <br />A. The District is a water conservancy district in the State of Colorado. It has <br />established and it owns the Enterprise, which is a water activity enterprise as defined by 937-45.1- <br />102(4), C.R.S., and which is an enterprise for purposes of Article X, Section 20 of the Colorado <br />Constitution. <br /> <br />B. The District is the owner of a pipeline which runs from its sources of water supply <br />in the Plateau Creek Basin to its water treatment plant near Palisade ("the Plateau Creek Pipeline"). <br />The Plateau Creek Pipeline is used to transport raw water from the sources of supply to the District's <br />water treatment plant for treatment and subsequent distribution to the District's customers. The <br />District has owned and operated the Plateau Creek Pipeline for many years. <br /> <br />C. The population within the District is expanding and the demand for water to serve <br />the public is increasing. In order to provide an adequate supply of water to meet the demands of the <br />customers of the District and the Enterprise, and to improve the reliability of the water system of the <br />District and the Enterprise, the District and Enterprise have determined that it is necessary to upgrade <br />and replace the Plateau Creek Pipeline. Without such upgrading and replacement, the Plateau Creek <br />Pipeline will soon be inadequate to serve the needs of the public. Therefore, the District and the <br />Enterprise have determined that it is necessary to upgrade and replace the Plateau Creek Pipeline in <br />order to fulfill the needs of the District and Enterprise and their customers. <br /> <br />D. Thus, the Board hereby determines that the interest of the District and the Enterprise, <br />and the public interest and necessity, demand that the Plateau Creek Pipeline be upgraded and <br />replaced and that provision be made for paying the cost of such replacement and upgrading. <br /> <br />E. The State of Colorado for the use and benefit of the Department ofNatural Resources, <br />Colorado Water Conservation Board ("CWCB"), and the District and the Enterprise entered into a <br />contract dated March 31, 1995, Contract Encumbrance No. C153670B. This contract has been <br />amended two times by the parties since its original execution. This contract, as amended by the two <br />previous amendments, shall be referred to herein as the "1995 Contract". Under the 1995 Contract, <br />CWCB agreed to loan to the Enterprise up to $7,537,500.00 for the purpose of designing and <br />constructing the upgrading and replacement of the Plateau Creek Pipeline (the "Project"). <br /> <br />F. The Enterprise desires to obtain an additional loan from CWCB for the Project in the <br />amount of$2,600,000, and CWCB has been authorized by the Colorado General Assembly to loan <br />such additional amount from the Construction Fund to the District, acting by and through the <br />Enterprise, for the Project. <br /> <br />Attachment A to Contract C153670B Amendment No.3 <br />