Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />~ <br /> <br />. <br /> <br />RESOLUTION # 9</ -7 <br /> <br />RESOLUTION OF THE BOARD OF'TRUSTEES OF THE TOWN OF RANGELY <br />APPROVING A LOAN IN THE AMOUNT OF $34,000 WITH THE STATE OF <br />COLORADO WATER CONSERVATION BOARD FOR THE PURPOSE OF EMERGENCY <br />RECONSTRUCTION OF A RAW WATER INTAKE STRUCTURE AND AUTHORIZING <br />THE EXECUTION OF DOCUMENTS THEREFORE. <br /> <br />BE IT HEREBY RESOLVED by the Board of Trustees of the Town of <br />Rangely in its capacity as a Water Activity Enterprize <br />(hereinafter terms the "Borrower") that: <br /> <br />1. The Borrower is authorized to contract with the state of <br />Colorado Water Conservation Board (hereinafter called the <br />state) for a loan debt of $34,000 for the purpose of <br />emergency reconstruction of a raw water intake structure; <br /> <br />2. The Treasurer and Mayor/Deputy Mayor are authorized to pay <br />said indebtedness on behalf of the Borrower; <br /> <br />3. The Board of Trustees shall make such appropriations in the <br />Water Fund as necessary to payoff the contract loan <br />pursuant to its terms and to discharge this lawful <br />indebtedness; <br /> <br />4. The Mayor on behalf of the Borrower is authorized to execute <br />the deed of trust as security required by the state as <br />specified in the Deed of Trust provisions of the contract; <br /> <br />5. There shall be within the Water Fund budget a specific and <br />separate account for the payment of the debt, said account <br />showing the revenues for said payment; <br /> <br />6. <br /> <br />The Mayor on behalf of the Borrower is authorized to sign a <br />security interest in such revenues in favor. of the State to <br />secure the repayment., <br /> <br />PASSED, APPROVED, ADOPTED this~7 U <br />1994. <br /> <br />day of <br /> <br />{1f1~ 0 <br /> <br /> <br /> <br />G LY TOWN COUNCIJA <br /> <br />~~/~ <br /> <br />F ances Green, Mayor <br /> <br />Daniel L. Coole , Town Clerk <br />