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secured by a Security Agreement to be executed by the City, as borrower, to the CWCB, as <br /> secured party;and <br /> WHEREAS,the Note and the Loan Contract shall collectively comprise a revenue <br /> obligation of the City payable from the Pledged Revenues (as defined herein), and pursuant to <br /> TABOR and Article XII, Section 93(f) of the Charter may be approved by the Council without <br /> an election; and <br /> WHEREAS, forms of the Note, the Loan Contract, and the Security Agreement <br /> (collectively, the"Financing Documents") have been filed with the City Clerk; and <br /> WHEREAS, the Council desires to approve the forms of the Financing <br /> Documents and authorize the execution thereof. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br /> CITY OF GRAND JUNCTION, COLORADO: <br /> Approvals, Authorizations, and Amendments. The forms of the Financing <br /> Documents filed with the City Clerk are incorporated herein by reference and are hereby <br /> approved. The City shall enter into and perform its obligations under the Financing Documents <br /> in the forms of such documents, with such changes as are not inconsistent herewith and as are <br /> hereafter approved by the President of the Council (the "President"). The President and City <br /> Clerk are hereby authorized and directed to execute the Financing Documents and to affix the <br /> seal of the City thereto, and further to execute and authenticate such other documents or <br /> 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 by the President, the City Clerk, or other appropriate officers of the <br /> City of any instrument or certificate or other document in connection with the matters referred to <br /> herein shall be conclusive evidence of the approval by the City of such instrument or certificate <br /> or other document. <br /> Election to Apply Supplemental Act. Section 11-57-204 of the Supplemental <br /> Public Securities Act, constituting Title 11, Article 57, Part 2, of the Colorado Revised Statutes, <br /> as amended (the "Supplemental Act"), provides that a public entity, including the City, may elect <br /> in an act of issuance to apply all or any of the provisions of the Supplemental Act. The Council <br /> hereby elects to apply all of the provisions of the Supplemental Act to the Financing Documents. <br /> APPENDIX 4 <br />