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RESOLUTION NO. <br /> A RESOLUTION BY THE BOARD OF DIRECTORS OF THE ALLIANCE REGIONAL <br /> WATER AUTHORITY AUTHORIZING THE ISSUANCE OF ALLIANCE REGIONAL <br /> WATER AUTHORITY BOND ANTICIPATION NOTE (REGIONAL WATER SUPPLY <br /> CONTRACT PROJECT), SERIES 2023; AND RESOLVING OTHER MATTERS <br /> INCIDENT AND RELATING TO THE ISSUANCE,PAYMENT, SECURITY, SALE, <br /> AND DELIVERY OF SUCH NOTE <br /> TABLE OF CONTENTS <br /> Page <br /> PREAMBLE....................................................................................................................................1 <br /> Section1. DEFINITIONS.........................................................................................................3 <br /> Section 2. AMOUNT, PURPOSE AND DESIGNATION OF THE NOTE............................3 <br /> (a)Amount and Designation....................................................................................3 <br /> (b)Purpose...............................................................................................................3 <br /> Section 3. DATE, DENOMINATIONS,NUMBERS, MATURITIES,AND TERMS <br /> OFTHE NOTE........................................................................................................3 <br /> (a) Terms of the Note...............................................................................................3 <br /> (b) In General...........................................................................................................4 <br /> Section4. INTEREST...............................................................................................................4 <br /> Section 5. REGISTRATION, TRANSFER, AND EXCHANGE; AUTHENTICATION.......4 <br /> (a)Paying Agent/Registrar......................................................................................4 <br /> (b)Registration Books.............................................................................................4 <br /> (c) Ownership of the Note........................................................................................5 <br /> (d)Payment of the Note and Interest.......................................................................5 <br /> (e)Authentication....................................................................................................5 <br /> (f) Transfer, Exchange or Replacement...................................................................5 <br /> (g) Substitute Paying Agent/Registrar.....................................................................6 <br /> (h)Notice of Redemption ........................................................................................7 <br /> (i) Initial Note .........................................................................................................7 <br /> Section 6. FORM OF NOTE ....................................................................................................7 <br /> Section 7. PLEDGE OF FUTURE BOND PROCEEDS..........................................................7 <br /> (a)Pledge.................................................................................................................7 <br /> (b)Perfection of Pledge...........................................................................................8 <br /> Section 8. DEBT SERVICE FUND AND PROJECT FUND..................................................8 <br /> (a)Debt Service Fund .............................................................................................8 <br /> (b)Project Fund.......................................................................................................8 <br /> Section 9. PAYMENT OF NOTE ............................................................................................9 <br /> Section 10. INVESTMENTS......................................................................................................9 <br /> Section 11. ISSUANCE OF ADDITIONAL INDEBTEDNESS...............................................9 <br /> Section 12. MAINTENANCE OF PROJECT-INSURANCE..................................................9 <br /> Section 13. RECORDS AND ACCOUNTS -ANNUAL AUDIT...........................................10 <br /> Section 14. SALE OR ENCUMBRANCE OF SYSTEM........................................................10 <br /> Section 15. SPECIAL COVENANTS......................................................................................10 <br /> (a) Title...................................................................................................................10 <br /> (b) Liens................................................................................................................. 10 <br /> i <br /> ARWA\BAN\2023:Authorizing Resolution <br />