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08-18Position5CRUSBULLETIN1780-27i{ES0LUTIONos-is-AT’pRovl.•:oOMI1.Nit.0572-0121LOANRESOLUTION(PublicBodies)ARESOLUTIONOFT[IEBoardofTrusteesOFTHETownofEstesPark,Colorado,actingbyandthroughtheTownsWaterEnterprise,AUTHORIZINGANDPROVIDINGFORTHEINCURRENCEOFINDEBTEDNESSFORTHEPURPOSEOFPROVIDINGAPORTIONOFTHECOSTOFACQUIRING,CONSTRUCTING,ENLARGING,IMPROVING,AND/OREXTENDINGITSParkEntranceEstatesNeighborhoodWaterDistributionSystemFACILITYTOSERVEANAREALAWFULLYWITHINITSJURISDICTIONTOSERVE.WHEREAS,itisnecessaryfortheTownofEstesPark,Colorado,actingbyandthroughtheTown’sWaterEnterprise,(PublicBody)(hereinaftercalledAssociation)toraiseaportionofthecostofsuchundertakingbyissuanceofitsbondsintheprincipalamountof658,000ArticleX,Section20oftheColoradoConstitution,pursuanttotheprovisionsofTitle31,Article35,Part4,C.R.S.andTitleII,Article57,Part2,C.R.S.andWIIEREAS,theAssociationintendslooblaiiassislanecfromtheUnitedStatesDepartmentofAgriculture,(hereincalledtheGovernment)actingundertheprovisionsoftheConsoldatedFannandRuralDevelopmentAct(7U.SC.1921etseq.)intheplanning.financing,andsupervisionofsuchundertakingandthepurchasingofbondslawfullyissued,intheeventthatnootheracceptablepurchaserforsuchbondsisfoundbytheAssociation:NOWTIIEREFORE.inconsiderationofthepremisestheAssociationherebyresolves:TohavepreparedonitsbehalfandtoadoptanordinanceorresolutionfortheissuanceofitsbondscontainingsuchitemsandinsuchformsasarerequiredbyStatestatutesandasareagreeableandacceptabletotheGovernment.2.Torefinancetheunpaidbalance,inwholeorinpart,ofitsbondsupontherequestoftheGovernmentifatanytimeitshallappeartotheGovernmentthattheAssociationisabletorefinanceitsbondsbyobtainingaloanforsuchpurposesfromresponsiblecooperativeorprivatesourcesatreasonableratesandtermsforloansfbrsimilarpurposesandperiodsoftimeasrequiredbysection333(c)ofsaidConsolidatedFarmandRuralDevelopmentAct(7U.S.C.I9X3(c)).3.Toprovidefor,execute,andcomplywithFormRD400—4,“AssuranceAgreement,”andFonnRD400—I,“EqualOpportunityAgreement,”includingan“EqualOpportunityClause,”whichclauseistoheincorporatedin,orattachedasariderto,eachconstructioncontractandsubcontractinvolvinginexcessof510,000.4.ToindemnifytheGovernmentforanypaymentsmadeorlossessufferedby(lieGovernmentonbehalfoftheAssociation,SuchindeinnifieatioiishitlIbepayablefromthesamesourceoffundspledgedtopaythebondsoranyotherlegallyper—tuissiblesource.5.Thatupondefaultinthepaymentsofanyprincipalandaccruedinterestonthebondsorintheperformanceofanycovenantoragreementcontainedhereinorintheinstrumentsincidenttomakingorinsuringtheloan,theGovernmentatitsoptionmay(a)dcclaretheentireprincipalamountthenoutstandingandaccruedinterestimmcdiatelydtieandpayable,(h)brtheaccotintoftheAssociation(payablefromthesourceoffundspledgedtopaythebondsoranyotherlegallypermissiblesource),incurandpayreasonableexpensesforrepair,maintenance,andoperationofthefociIityandsuchotherreasonableexpensesasmaybenecessarytocurethecauseofdefault,and/or(c)takepossessionofthefacility,repair,maintain,andoperateorrentit.DefaultundertheprovisionsofthisresolutionoranyinstrumentincidenttothemakingorinsuringoftheloanmayheconstruedbytheGovernmenttoconstitutedcfttultunderanyotherinstrumentheldbytheGovernmentandexecutedorassumedbytheAssociation,anddefaultunderanysuchinstrumentmaybeconstruedbytheGovernmenttoconstitutedefaulthereunder.6.Nottosell,transfer,lease,orotherwiseencumberthelhcilityoranyportionthereof,orinteresttherein,orpermitotherstodoso,withoutthepriorwrittenconsentoftheGovernment.7.Nottodefeasethebonds,ortohornnvmoney,enterintoanycontractoragreement,orotherwiseincuranyliabilitiesforanypurposeinconnectionwiththefocility(exclusiveofnonnalmaintenance)withoutthepriorwritteticonsentoftileGovernmentifsuchundertakingwouldinvolvethesourceoffundspledgedtopaythebonds.8.ToplacetheproceedsofthebondsondepositinanaccountandinamannerapprovedbytheGovernment,FundsmayhedepositedininstitutionsinsuredbytheStateorFederalGovernmentorinvestedinreadilymarketablesecuritiesbackedbythelullfoithandcreditoftheUnitedStates.Anyincomefromtheseaccountswillbeconsideredasrevenuesofthesystem.9.TocomplywithallapplicableStateandFederallawsandregulatiotisandwcontinuallyoperateandmaintaintilefacilityingoodcondition.10.Toprovideforthereceiptofadequaterevenuestomeettherequirementsofdebtservice,operationandmaintenance,andtheestablishmentofadequatereserves.Revenueaccumulatedoverandabovethatneededtopayoperatingandmaintenance,debtserviceandreservesmayotilyberetainedorusedtomakeprepaymentsontheloan.RevenuecannotheusedtopayanyexpenseswhicharcnotdirectlyincurredforthefacilityfinancedbyUSDA.Nofreeserviceoruseofthefacilitywillbepermitted.Accordingto(hePapentot’kReductionActof1995,onagencmmarno’conductorsponsor,andapersonisnotrequiredtorespondto,acollectionofinfitr,m,aeio,iunlessitdisplaysacolic!0.118cono’olnumberThealid0.1/8controlaantherfarehisinformationcollectionis053.o111.ThetimerequiredtocompleteehisinfOrnmatio,mcollectionisestimatedtoarerogeIhourperresponse,includingthelittle/Orreviewinginstructions,searchingexistingdaeasources,gatheringmidmaintainingthedmaneeded,andcompletingandretiettingehecollc’ctionofi,ficn,mation. 0CIIToaeqiiireandmainLainsuchinsuranceandfidelitybondcoverageasmayberequiredbytheGovernment.I2.ToestablishandmantainsitchbooksandrecordsrelatngtotheoperatoilOfthetheiiityanditsfinancialaffidrsandtoprovideforrequiredauditthereofasrequiredbytheGovernment,toprovidetheGovernmentacopyofeachsuchauditvitinoutitsrequest,andtoforwardtotineGoverninentsuciiadditionalinthninationaridreportsasit‘nayIromtimetotimerequire.13.ToprovidetheGovernmentatallreasonabletimesaccess10allhooksandrecordsrelatingtothefacility’andaccesstotinepropertyofthesystemsothattheGovernmentmayaseertaiitinattIneAssociationiscomplyingwitintheprovisionshereofandoftheinstruimentsincidenttotheinakingorinsuringoftheloan,14.ThatiftheGovernmentrequiresthatareserveaccountheesiahiislied,disbursementsfromthataccount(s)naybeused“liennecessary’orpayinentsdueonthebondifsuff5ciemfundsarenototherwiseavailableandpriorapprovaloftineGovernmentisobtained.Also,withthepriorwrittenapprovaloftheGovernment,fundsmayhewithdrawnandusedforsuchthingsasemergencymaintenance,extensionstofacilitiesandreplacementofshortlivedassets.15.ToprovideadequateservicetoallpersonswithintineserviceareawhocankasiblyandlegallyheservedandtoobtainUSDA’sconcurrencepriortorefusingneworadequateservicestosuchpersons.UponthULiretoprovideserviceswinchareteasiIleandlegal,sriciipersonshallIiaveadirectrightofactionagainsttheAssociationorpub!ichotly.16.TocomplywiththemeasuresidentifiedintineGovernment’senvironmentalimpactanalysisfortinsfheilityforthepurposeofavoidingorreducingtheadverseenvironmentalimpactsoftinefacility’sconstructionoroperation.17.ToacceptagrantinamamountnottoexceedS658,000underthetermsofferedbytheGovernment;thattheTownofEsinaPark,Colorado,actingbyandthroughtheTown’iWalerEnierpr,te.andtheTown,BoardofTruateeaofibeTown,andandactingaathegoverrkngbodyoftheAssociationareherebyauthorizedandempoweredtotakeallactionnecessaryorappropriateintheexecutionofallwritteninstrumentsasmayberequiredinregardtoorasevidenceofsuclngrant;andtooperatethefacilityundertinetermsofferedinsaidgrantagreement(s).Theprovisionshereofandtheprovisionsofallinstrumentsincidenttotinemakingortheinsuringoftineloan,unlessotherwisespecificallyprovidedbytinetermsofsuchinstrument,sinaIIbebindingupontheAssociationaslongastinebondsareheldorinsuredbytheGovenunneritorassiginee.Tineprovisionsofsections6through17Inereofmay’beprinvidedforuninnorespecificdetailintinebondresolutioinorordinanCe;tantineextentthattineproyisioinscontainedinsuchbondresolutionorordinanceshouldbefouindtobeitneonsistentwitlntineprovisionsIncreof,theseprovisioinssinailbeconstruedascontroihiingbetweentineAssociationandtineGoverinmcutorassigincc.Thevotewas’.Yeas1Nays_______________AbseuntINWITNESSWHEREOF,tineBoardofTrusteesoftineTownofEstesPark,actingastheTown’sWaterEnterprise,hasdulyadoptedtinisresoltitionandcausedit2daoftobeexecutedbytheofficersbelowindupheateonthis0y—ay(SEAL)ByAttest:____________2018ToddJirTitleMayorTownClerk CCERTIFICATIONTOBEEXECUTEDATLOANCLOSINGI,theundersigned,asTownClerkOftheTownofEstesParkBoardofTrusteesactingasthegoverningbodyofsuchAssociationiscomposedofherebycertifyiliattireseven________________________members.ofwhom___________________________constitutingaquorum,werepresentatafleetingthcrcofdulycalledandheldonthe_______________________________dayofandthattirekiregoingresolutionwasadoptedatsuchneetingbythevoteslio’nabove,IfurthercertifythatasofthedareofclosingoftieIoanIromtheUnitedStatesDeprtmentofAgriciiitore,saidrestlutinremainsineffectandhasnotbeenrescindedoramendedinairyway.Dated.Ins94dayof_________________________TitleOwnClerk