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�. <br />, <br />Section 7. Limited Obli�,ation; Special Obli a�tion. The Financing r <br />Documents are payable solely from the Pledged Property and the Financing Documents do not <br />constitute a debt within the meaning of any constitutional or statutory limitation or provision. <br />Section 8. No Recourse against Officers and Agents. Pursuant to Section 11- <br />57-209 of the Supplemental Act, if a member of the Board, or any officer or agent of the District <br />acts in good faith, no civil recourse shall be available against such member, officer, or agent for <br />payment of the principal of or interest on the Promissory Note. Such recourse shall not be <br />available either directly or indirectly through the Board or the District, or otherwise, whether by <br />virtue of any constitution, statute, rule of law, enforcement of penalty, or otherwise. By the <br />acceptance of the Promissory Note and as a part of the consideration of its sale or purchase, <br />CWCB specifically waives any such recourse. <br />Section 9. Disposition and Investment of Loan Contract Proceeds. The <br />proceeds of the Loan Contract shall be applied only to pay the costs and expenses of acquiring, <br />constructing and equipping the Project, including costs related thereto and reimbursement to the <br />District for capital expenditures heretofore incurred and pa.id from District funds in anticipation <br />of the incurrence of long-term financing therefor, and all other costs and expenses incident <br />thereto, i.ncluding without limitation the costs of obtaining the Loan Contract. CWCB shall not <br />be responsible for the application or disposal by the District or any of its officers of the funds <br />derived from the Loan Contract. In the event that a11 of the proceeds of the Loan Contract are <br />not requirEd to pay such costs and expenses, any remaining amount shall be used for the purpose <br />of paying the principal amount of the Loan Contract and the interest thereon. <br />Section 10. Estimated Life of Improvements. It is hereby deternuned that the <br />estimated life of the Project to be financed with the proceeds of the Loan Contract is not less <br />than the final maturity of the Loan Contract. <br />Section 11. Direction to Take Authorizin� Action. The appropriate officers of <br />the District and members of the Board are hereby authorized and directed to take all other <br />actions necessary or appropriate to effectuate the provisions of this Resolution, including but not <br />limited to such certificates and affidavits as may reasonably be required by CWCB. <br />-4- <br />