CT2015-117 Contract - Laserfiche WebLink

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officers of the District, shall be conclusive evidence of the approval by the District of such instrument. Section 2. Election to Apply Supplemental Act. Section 11-57-204 of the Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the "Supplemental Act") provides that a public entity, including the District, may elect in an act of issuance to apply all or any of the provisions of the Supplemental Act. The Board hereby elects to apply all of the provisions of the Supplemental Act to the Financing Documents. Section 3. Delegation. (a) Pursuant to Section 11-57-205 of the Supplemental Act, the Board hereby delegates to the Chairman or the General Manager the authority to make the following determinations relating to and contained in the Financing Documents, subject to the restrictions contained in paragraph (b) of this Section 3: (i) The interest rate on the Loans; (ii) The principal amount of the Loans; (iii) The amount of principal of the Loans maturing in any given year and the final maturity of the Loans; (iv) The dates on which the principal of and interest on the Loans are paid; and (v) The existence and amount of reserve funds for the Loans, if any. (b) The delegation in paragraph (a) of this Section 3 shall be subject to the following parameters and restrictions: (i)the interest rate on each of the Loans shall not exceed 2.75%; (ii) the aggregate principal amount of the Loans shall not exceed $4,908,600; and (iii) the final maturity of any of the Loans shall not be later than December 31, 2045. Section 4. Conclusive Recital. Pursuant to Section 11-57-210 of the Supplementa.l. Act, the Financing Documents shall contain a recital that the Notes are issued pursuant to certain provisions of the Supplemental Act. Such recitals shall be conclusive evidence of the validity and the regularity of the issuance of the Notes after their delivery for value. 4