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WHEREAS, the Board desires to approve the forms of the Financing Documents and <br /> authorize the execution thereof. <br /> NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PARKER <br /> WATER AND SANITATION DISTRICT ACTING BY AND THROUGH ITS PARKER WATER ENTERPRISE IN <br /> THE COUNTY OF DOUGLAS AND STATE OF COLORADO: <br /> Section 1. Approvals, Authorizations, and Amendments. The forms of the Financing <br /> Documents presented at this meeting are incorporated herein by reference and are hereby approved. The <br /> District shall enter into and perform its obligations under the Financing Documents in the forms of such <br /> documents, with such changes as are not inconsistent herewith and as are hereafter approved by the <br /> Chairman of the Board of Directors and President of the District (the "Chairman"). The Chairman and <br /> Secretary of the District (the "Secretary") are hereby authorized and directed to execute the Financing <br /> Documents and to affix the seal of the District thereto, and further to execute and authenticate such other <br /> documents or certificates as are deemed necessary or desirable in connection therewith. The Financing <br /> Documents shall be executed in substantially the forms approved at this meeting. <br /> The execution of any instrument or certificate or other document in connection with the matters <br /> referred to herein by the Chairman and Secretary or by other appropriate officers of the District, shall be <br /> 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 Supplemental <br /> Public Securities Act, constituting Title 11,Article 57, Part 2, C.R.S. (the"Supplemental Act") provides that a <br /> public entity, including the District, may elect in an act of issuance to apply all or any of the provisions of the <br /> Supplemental Act. The Board hereby elects to apply all of the Supplemental Act to the Financing Documents. <br /> Section 3. Delegation. <br /> (a) Pursuant to Section 11-57-205 of the Supplemental Act,the Board hereby delegates <br /> to the Chairman, the District Manager, 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 contained in <br /> paragraph (b) of this Section 3: <br /> (I) The interest rate on the Loans; <br /> (ii) The principal amount of the Loans; <br /> 3 <br /> APPENDIX 3 <br />