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<br /> <br />Promissory Note and the Loan Contract, the "Financing Documents") may be approved by the Board <br />without an election; and <br />WHEREAS, the Financing Documents shall be a revenue obligation of the District, <br />payable from the Pledged Revenues (as defined in the Financing Documents); and <br />WHEREAS, there have been presented to the Board the forms of the Financing <br />Documents; and <br />WHEREAS, the Board desires to approve the forms of the Financing Documents and <br />authorize the execution thereof. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF <br />THE CENTRAL WELD COUNTY WATER DISTRICT ACTING BY AND THROUGH ITS <br />WATER ACTIVITY ENTERPRISE IN THE COUNTY OF WELD AND STATE OF <br />COLORADO: <br /> <br />Section 1. Approvals. Authorizations. and Amendments. The forms of the <br />Financing Documents presented at this meeting are incorporated herein by reference and are hereby <br />approved. The Districtshall enter into and perform its obligations under the Financing Documents <br />in the forms of such documents, with such changes as are not inconsistent herewith and as are <br />hereafter approved by the Chairman of the Board of Directors and President of the District (the <br />"Chairman"). The Chairman and Secretary of the District (the "Secretary") are hereby authorized <br />and directed to execute the Financing Documents and to affix the seal of the District thereto, and <br />further to execute and authenticate such other documents or certificates as are deemed necessary or <br />desirable in connection therewith. The Financing Documents shall be executed in substantially the <br />forms approved at this meeting. <br />The execution of any instrument or certificate or other document in connection with <br />the matters referred to herein by the Chairman and Secretary or by other appropriate officl~rs of the <br />District, shall be conclusive evidence of the approval by the District of such instrument. <br />Section 2. Election to Apply Supplemental Act. Section 11-57-204 of the <br />Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the <br />"Supplemental Act") provides that a public entity, including the District, may elect in an act of <br /> <br />-2- <br /> <br />Appendix 3 to Loan Contract C150122 <br />Page 2 of 9 <br />