Director Ferdinandsen moved that the following Resolution be adopted:

BEFORE THE BOARD OF DIRECTORS OF THE

JEFFERSON COUNTY, HIWAN GOLF CLUB PAVING

GENERAL IMPROVEMENT DISTRICT

STATE OF COLORADO

RESOLUTION NO. ID91-2

WHEREAS, a public hearing was held on December 12, 1991, for the purpose of considering a proposed budget, pursuant to C.R.S. 29-1-108, C.R.S., as amended, for the Jefferson County, Hiwan Golf Club Paving General Improvement District; and

WHEREAS, at said public hearing, the Board of Directors of the Jefferson County, Hiwan Golf Club Paving General Improvement District did adopt a budget for the year 1992 in the total amount of $20,963 for debt retirement; and

WHEREAS, the Board of Directors of the Jefferson County, Hiwan Golf Club Paving General Improvement District must thereafter enact a Resolution making an appropriation for the ensuing fiscal year.

NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Jefferson County, Hiwan Golf Club Paving General Improvement District, does hereby and herewith appropriate the total amount of $20,963 for calendar year 1992 for debt retirement.

Director Clement seconded the adoption of the foregoing Resolution. The roll having been called, the vote was as follows:

Director Rich Ferdinandsen AYE

Director Marjorie E. Clement AYE

Director John P. Stone, Chairman AYE

The Resolution was adopted by unanimous vote of the Board of Directors of the Jefferson County, Hiwan Golf Club Paving General Improvement District, State of Colorado.

Dated: December 12, 1991