PROJC01676

• Contract/PO #: C153677
• Contractor Name: Rangely, Town of
• Contract Type: Loan
• Water District: 0
• County: Rio Blanco
• Bill Number: SB 80-67
• Loan Projects - Doc Type: Contract Documents

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RESOLUTION # 9</ -7

RESOLUTION OF THE BOARD OF'TRUSTEES OF THE TOWN OF RANGELY
APPROVING A LOAN IN THE AMOUNT OF $34,000 WITH THE STATE OF
COLORADO WATER CONSERVATION BOARD FOR THE PURPOSE OF EMERGENCY
RECONSTRUCTION OF A RAW WATER INTAKE STRUCTURE AND AUTHORIZING
THE EXECUTION OF DOCUMENTS THEREFORE.

BE IT HEREBY RESOLVED by the Board of Trustees of the Town of
Rangely in its capacity as a Water Activity Enterprize
(hereinafter terms the "Borrower") that:

1. The Borrower is authorized to contract with the State of
Colorado Water Conservation Board (hereinafter called the
State) for a loan debt of $34,000 for the purpose of
emergency reconstruction of a raw water intake structure;

2. The Treasurer and Mayor/Deputy Mayor are authorized to pay
said indebtedness on behalf of the Borrower;

3. The Board of Trustees shall mak~'buch appropriations in the
Water Fund as necessary to payoff'the contract loan
pursuant to its terms and to discharge this lawful
indebtedness;

4. The Mayor on behalf of the Borrower is authorized to execute
the deed of trust as security requfred by the State as
specified in the Deed of Trust prqvlsions of the contract;

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5. There shall be within the Water."~li!]ri budget a specific and
separate account for the payment,0~.the debt, said account
showing the revenues for said paYQcnt;

6.

The Mayor on behalf of the Borrower is authorized to sign a
security interest in such revenues in favor, of the State to
secure the repayment.'

PASSED, APPROVED, ADOPTED this~ 7 it.
1994.

day of

Uf1A: 0

G LY TOWN COUNCIJA

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F ances Green, Mayor

Daniel L. Coole , Town Clerk

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