C150122 PIF Documents

• Contract/PO #: C150122
• Contractor Name: Central Weld County Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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Section 7. Limited Obligation;Special Obligation. The Financing Documents are
payable solely from the Pledged Revenue and the Financing Documents do not constitute'a debt
within the meaning of any constitutional or statutory limitation or provision.
Section 8. No Recourse against Officers and Agents. Pursuant to Section 11-57-
209 of the Supplemental Act,if a member of the Board,or any officer or agent of the District acts in
good faith,no civil recourse shall be available against such member,officer,or agent for payment of
the principal of or interest on the Promissory Note. Such recourse shall not be available either
directly or indirectly through the Board or the District, or otherwise, whether by virtue of any
constitution, statute, rule of law, enforcement of penalty, or otherwise. By the acceptance of the
Promissory Note and as a part of the consideration of its sale or purchase,CWCB specifically waives
any such recourse.
Section 9. Disposition and Investment of Loan Contract Proceeds. The proceeds
of the Loan Contract shall be applied only to pay the costs and expenses of acquiring,constructing
and equipping the Project, including costs related thereto and reimbursement to the District for
capital expenditures heretofore incurred and paid from District funds in anticipation of the incurrence
of long-term financing therefor,and all other costs and expenses incident thereto,including without
limitation the costs of obtaining the Loan Contract. CWCB shall not be responsible for the
application or disposal by the District or any of its officers of the funds derived from the Loan
Contract.
Section 10. Estimated Life of Improvements. It is hereby determined that the
estimated life of the Project to be financed with the proceeds of the Loan Contract is not less than the
final maturity of the Loan Contract.
Section 11. Direction to Take Authorizing Action. The appropriate officers of the
District and members of the Board are hereby authorized and &irec • other actions
necessary or appropriate to effectuate the provisions of this Re ion,in It limited to
such certificates and affidavits as may reasonably be require. 1 i ' "
Section 12. Ratification and A royal of Prior Acti retofore
taken by the officers of the District and members of the Board,not inconsistent wi visions
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Appendix 3 to Loan Contract C150122
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