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the Loan Contract, without any physical delivery, filing, or further act. The lien of such pledge <br />and the obligation to perform the contractual provisions made in the Financing Documents shall <br />have priority over any or all other obligations and liabilities of the District, except as may be <br />otherwise provided in the Supplemental Public Securities Act, in this Resolution, or in any other <br />instrument. The lien of such pledge shall be valid, binding, and enforceable as against all persons <br />having claims of any kind in tort, contract, or otherwise against the District irrespective of <br />whether such persons have notice of such liens. <br />5ection 6. Limitation of Actions. Pursuant to Section 11-57-212 of the <br />Supplemental Act, no legal or equitable action brought with respect to any legislative acts or <br />proceedings in connection with the Financing Documents sha11 be commenced more than thirty <br />days after the adoption of this Resolution. <br />Section 7. General Obli�ation Pledge. The obligation of the District to <br />make the annual payxnents due under the Financing Documents shall constitute a general <br />obligation of the District, and the full faith and credit of the District is hereby pledged for the <br />payment thereof. Pursuant to its statutory authority, the 2008 Election, and as permitted by law, <br />the District shall cause to be levied on all of the taxable property of the District, in addition to all <br />other taxes, direct annual taxes in each of the years 2009 to 2028, inclusive (for collection in <br />2010 to 2029, inclusive), without limitation of rate and in amounts sufficient, when combined <br />with any other legally available moneys of the District, to pay when due the annual payment due <br />under the Financing Documents. The foregoing provisions of this Resolution are hereby <br />declared to be the certificate of the Board to the board of county commissioners of Yuma <br />County, Colorado, showing the aggregate amount of taxes to be levied for the purposes aforesaid <br />by said board of county commissioners from time to time, as required by law. The amounts <br />necessary to pay all costs and expenses incidental to the execution of the Financing Documents <br />and to pay the amounts due thereunder are hereby appropriated for said purposes, and such <br />amounts as appropriate for each year shall also be included in the annual budget and the <br />appropriation bills to be adopted and passed by the Board in each year, respectively, until all <br />amounts due under the Financing Documents have been fully paid, satisfied, and discharged. <br />Section 8. No Recourse a�ainst Officers and Agents. Pursuant to Section <br />11-57-209 of the Supplemental Act, if a member of the Board, or any officer or agent of the <br />District acts in good faith, no civil recourse shall be available against such member, officer, or <br />agent for payment of the principal of or interest on the 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 Note and as a part of the consideration of its sale or purchase, CWCB <br />specifically waives any such recourse. <br />Section 9. Disposition and Investment of Loan Proceeds. The proceeds of <br />the Loan shall be applied only to pay the costs and expenses of the Project, including costs <br />related thereto. Neither CWCB nor any subsequent owner(s) of the Loan Contract shall be <br />responsible for the application or disposal by the District or any of its officers of the funds <br />derived from the Loan. In the event that all of the proceeds of the Loan are not required to pay <br />-7- <br />