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Section 7. Limited Obligation~ Special Obligation. The Financing Documents are payable solely from the Pledged Revenue and the Financing Documents do not constitulte 'a debt within the meaning of any constitutional or statutory limitation or provision. Section 8. No Recourse against Officers and Agents. Pursuant to Section 11-57- 209 of the Supplemental Act, if a member of the Board, or any officer or agent of the District acts in good faith, no civil recourse shall be available against such member, officer, or agent for payment of the principal of or interest on the Promissory Note. Such recourse shall not be available either directly or indirectly through. the Board or the District, or otherwise, whether by virtue of any constitution, statute, rule of law, enforcement of penalty, or otherwise. By the acceptance of the Promissory Note and as a part of the consideration of its sale or purchase, CWCB specificallly waives any such recourse. Section 9. Disposition and Investment of Loan Contract Proceeds. The proceeds of the Loan Contract shall be applied only to pay the costs and expenses of acquiring, constructing and equipping the Project, including costs related thereto and reimbursement to the District for . capital expenditures heretofore incurred and paid from District funds in anticipation of the incurrence oflong-term financing therefor, and all other costs and expenses incident thereto, including without limitation the costs of obtaining the Loan Contract. CWCB shall not be responsible for the application or disposal by the District or any of its officers of the funds derived from the Loan Contract. Section 10. Estimated Life of Improvements. It is hereby determined that the estimated life of the Project to be financed with the proceeds of the Loan Contract is not less than the fmal maturity of the Loan Contract. Section 11. Direction to Take Authorizing Action. The appropriate offilcers of the District and members of the Board are hereby authorized and directed to take all othler actions necessary or appropriate to effectuate the provisions of this Resolution, including but not limited to such certificates and affidavits as may reasonably be required by CWCB. Section 12. Ratification and Approval of Prior Actions. All actions heretofore taken by the officers of the District and members of the Board, not inconsistent with the provisions -5- Appendix 3 to Loan Contract C150122 Page 5 of 9