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or desirable in connection with the District's performance of its obligatiorLs under the Financing <br />Documents. <br />Section 2 . Election to AUp1V Supplemental Act Section 11-57-204 of the <br />Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, Colorado Revised <br />Statutes (the "Supplemental Act") provides that a public entity, including the District, may elect <br />in an act of issuance to apply all or any of the provisions of the Supplemental Act. The District <br />hereby elects to apply a11 sections of the Supplemental Act to the Financing Documents. <br />Section 3. Delegation. <br />� (a) Pursuant to § 11-57-205 of the Supplemental Act, the Board hereby <br />delegates to the President or any member of the Board the authority to make the following <br />determinations relating to and contained in the Financing Documents, subject to the restrictions <br />contained in paragraph (b) below: <br />(i) The interest rate on the Loan; <br />(ii) The principal amount of the Loan; <br />(iii) The amount of principal of the Loan maturing in any given year and <br />the final maturity of the Loan; <br />(iv) The dates on which the principal of and interest on the Loan are paid; <br />and <br />(v) The existence and amount of capitalized interest or reserve funds for <br />the Loan, if any. <br />(b) The delegation in paragraph (a) of this Section shall be subject to the <br />following parameters and restrictions: <br />(i) <br />(ii) <br />(iii) <br />2030. <br />the interest rate on the Loan shall not exceed 2.25% per annum; <br />the principal amount of the Loan shall not exceed $9,595,000; and <br />the final maturity of the Loan shall not be later than December 1, <br />Section 4, Conclusive Recital. Pursuant to Section 11-57-210 of the <br />Supplemental Act and Section 31-35-413, C.R.S., the Note shall contain a recital that the Note is <br />issued pursuant to the Supplemental Act. Such recital shall be conclusive evidence of the <br />validity and the regularity of the issuance of the Note after its delivery for value. <br />Section 5. Pledge of Revenues; Lien. Pursuant to the 11-57-208, C.R.S., the <br />Pledged Revenues (as defined by the Financing Documents), as received by or otherwise <br />credited to the District, shall immediately be subject to the lien of the pledge made herein and in <br />� <br />