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<br />DOLORES WATER CONSERVANCY DISTRICT WATER ACTNITY ENTERPRISE <br />RESOLUTION No. 00- 01 <br /> <br />RESOLUTION APPROVING THE LOAN OF $75,000 FROM THE COLORADO WATER <br />,CONSERVATION BOARD TO THE DOLORES WATER CONSERVANCY DISTRlCT AND <br />THE DOLORES WATER CONSERVANCYDISTRlCT WATER ACTMTY ENTERPRISE <br />TO PERFORM: A FEASIBILITY STUDY FOR THE DEVELOPMENT OF ADDITIONAL <br />WATER SUPPLIES. <br /> <br />'WHEREAS, the Dolores Water Conservancy District (the "District") is a water <br />conservancy district established pursuant to and governed by Colorado statute, C.R.S. g 37-45- <br />101, et~ to conserve and develop the water resources of the Dolores River and its tributaries <br />in Southwest Colorado; and <br /> <br />'WHEREAS, the District is located in Dolores and Montezuma Counties, Colorado; and <br /> <br />'WHEREAS, the Dolores Water Conservancy District Water Activity Enterprise (the <br />"Enterprise") is an enterprise within the meaning of S 37-45.1-101 et seq., C.R.S. (1998) and <br />Article X, Section 20 of the Colorado Constitution, and was established by Resolution No. 93-02 <br />of the District, dated December 14, 1993; and <br /> <br />'VVHEREAS, the Enterprise and the District applied to the Colorado Water Conservation <br />'Board (the "CWCB") for a loan to finance the costs of a feasibility study (the "Study") of <br />alternatives for development of additional water supplies (the "Project"), at a cost of <br />approximately $150,000. <br /> <br />'WHEREAS, at its July 13-14, 1998 meeting, the CWCB approved a loan to the District and <br />the Enterprise in an amount not to exceed $75,000 or fifty percent (50%) of the cost of the Study, <br />whichever is less, at an interest rate of 3 .5% per annum for a term of up to 10 years to finance the <br />costs of the Study (the "Loan"); and <br /> <br />'WHEREAS, the CWCB now desires to loan money to the District and the Enterprise for <br />this Study upon terms and conditions mutually agreed upon with the District and the Enterprise. <br /> <br />. NOW, THEREFORE, the Board of Directors of the Enterprise ("Enterprise Board") <br />resolves as follows: <br /> <br />1. The Enterprise and the District shall have the Study prepared for the Project in <br />accordance with a "Scope of Work" prepared by the consulting engineer of the District and the <br />Enterprise, Steve Hams, P.E. The CWCB has reviewed and approved the Scope of Work, which <br />is attached to the Loan Contract. <br /> <br />2. The Enterprise and the District shall provide the CWCB with two (2) copies of the <br />final report of the Study, prepared in' compliance with the Scope of Work, within two (2) years of <br />the date of the Loan Contract unless the CWCB agrees in writing to an extension of such time, <br /> <br />Appendix B to Loan Contract C150003 <br />