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<br />~:.' <br /> <br />3. The Enterprise Board warrants that the Boards of Directors of both the District and <br />the Enterprise have complied with the order establishing the Enterprise under C.R.S. S 37-45-112 <br />and all statutory and other legal requirements. ' <br /> <br />4. The Enterprise Board hereby authorizes and instructs the Enterprise to: <br /> <br />a. enter into and comply with the terms of the Loan Contract and the "Promissory <br />Note" for $75,000, attached as Exhibit "A" to the Loan Contract; <br /> <br />b. repay the Loan to the ,CWCB by making annual payments to the CWCB in <br />accordance with the Promissory Note; and <br /> <br />c. obtain, together with the District, five (5) certificates of deposit each in the <br />amount of one annual loan payment ($16,61 J;J 0) as security for the Loan, as required under the <br />Loan Contract and the Promissory Note; <br /> <br />5. The Enterprise Board specifically agrees that this resolution shall be irrepealable for <br />the term of the Loan Contract. <br /> <br />ADOPTED this 13th day of January, 2000. <br /> <br />~~w,~~ <br /> <br />Donald W. Schwindt, President <br />Dolores Water Conservancy District <br />Water Activity Enterprise <br /> <br />CERTIFICATION <br /> <br />I, Billy F. Smart, Secretary of the Board of Directors of the Dolores Water Conservancy <br />, District Water Activity Enterprise, do hereby certify that the above resolution was adopted by the <br />~oar~~..n:ectr;:;. a regular meeting held on January~13' 2000 by a vote of Soy lk) <br /> <br /> <br />-~':I ~M;f- <br />B' " S , Secretary <br />Dolores Water Conservancy District <br />Water Activity Enterprise <br /> <br />H:\ab\DWCD\RcsoJ..Wf..OLwpd 1/13100 . <br /> <br />2 <br />