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CT2015-109 Contract
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CT2015-109 Contract
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Last modified
11/6/2014 11:28:56 AM
Creation date
10/28/2014 3:15:39 PM
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Loan Projects
Contract/PO #
CT2015-109
Contractor Name
Parker Water and Sanitation District
Contract Type
Loan
Water District
8
County
Douglas
Arapahoe
Loan Projects - Doc Type
Contract Documents
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unless such costs have been provided for from other funds, excluding, however,as an item of expense, any <br /> allowance for depreciation or amounts for the payment of interest on indebtedness. <br /> "System" shall mean the property and facilities comprising the water and sanitary sewer <br /> system of the District at the time of delivery hereof,including real and personal property and any easements, <br /> and also any and all additions and betterments thereto and improvements and extensions hereafter <br /> constructed or acquired by the District and used in connection with the water and sanitary sewer facilities of the <br /> District. <br /> Section 6. Limitation of Actions. Pursuant to Section 11-57-212 of the Supplemental Act, <br /> no legal or equitable action brought with respect to any legislative acts or proceedings in connection with the <br /> Financing Documents shall be commenced more than thirty days after the issuance of the Notes. <br /> Section 7. Limited Obligation; Special Obligation. The Financing Documents are <br /> payable solely from the Pledged Revenue and the Financing Documents do not constitute a debt within the <br /> meaning of any constitutional or statutory limitation or provision. <br /> Section 8. No Recourse against Officers and Agents. Pursuant to Section 11-57-209 of <br /> the Supplemental Act,if a member of the Board,or any officer or agent of the District acts in good faith,no civil <br /> recourse shall be available against such member,officer,or agent for payment of the principal of or interest on <br /> the Notes. Such recourse shall not be available either directly or indirectly through the Board or the District,or <br /> otherwise,whether by virtue of any constitution,statute,rule of law,enforcement of penalty,or otherwise. By <br /> the acceptance of the Notes and as a part of the consideration of its sale or purchase, CWCB specifically <br /> waives any such recourse. <br /> Section 9. Disposition and Investment of Proceeds of the Loan Contracts. The proceeds <br /> of the Loan Contracts shall be applied only to pay the costs and expenses of acquiring, constructing and <br /> equipping the Project,including costs related thereto and reimbursement to the District for capital expenditures <br /> heretofore incurred and paid from District funds in anticipation of the incurrence of long-term financing therefor, <br /> and all other costs and expenses incident thereto, including without limitation the costs of obtaining the Loan <br /> Contracts, CWCB shall not be responsible for the application or disposal by the District or any of its officers of <br /> the funds derived from the Loan Contracts. <br /> 5 <br /> APPENDIX 3 <br />
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