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funds in anticipation of the incurrence of long-teiiu financing therefor, and all other costs and <br /> expenses incident thereto, including without limitation the costs of obtaining the Loans. Neither <br /> CWCB nor any subsequent owner(s) of the Loan Agreements shall be responsible for the <br /> application or disposal by the District or any of its officers of the funds derived from the Loans. <br /> In the event that all of the proceeds of the Loans are not required to pay such costs and expenses, <br /> any remaining amounts shall be used for the purpose of paying the principal amount of the Loans <br /> and the interest thereon. <br /> Section 10. District Representative. The Chaiiman and the General Manager <br /> are hereby designated as the authorized representatives for the purpose of performing any act or <br /> executing any document relating to the Loans, the District, or the Loan Agreements. A copy of <br /> this Resolution shall be furnished to CWCB as evidence of such designation. <br /> Section 11. Estimated Life of Improvements. It is hereby deteiinined that the <br /> estimated life of each of the Projects to be financed with the proceeds of the Loans is not less the <br /> final maturity of the respective Loan. <br /> Section 12. Direction to Take Authorizing Action. The appropriate officers of <br /> the District and members of the Board are hereby authorized and directed to take all other actions <br /> necessary or appropriate to effectuate the provisions of this Resolution, including but not limited <br /> to such certificates and affidavits as may reasonably be required by CWCB. <br /> Section 13. Ratification and Approval of Prior Actions. All actions heretofore <br /> taken by the officers of the District and members of the Board, not inconsistent with the <br /> provisions of this Resolution, relating to the Financing Documents, or actions to be taken in <br /> respect thereof, are hereby authorized, ratified, approved, and confirmed. <br /> Section 14. Repealer. All acts, orders, ordinances, or resolutions, or parts <br /> thereof, in conflict herewith are hereby repealed to the extent of such conflict. <br /> Section 15. Severability. Should any one or more sections or provisions of this <br /> Resolution be judicially determined invalid or unenforceable, such determination shall not affect, <br /> impair, or invalidate the remaining provisions hereof, the intention being that the various <br /> provisions hereof are severable. <br /> Section 16. Resolution Irrepealable. After said Notes are issued, this <br /> Resolution shall be and remain irrepealable until said Notes and the interest thereon shall have <br /> been fully paid, satisfied and discharged. <br /> 6 <br />