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other matters authorized by this resolution. The approval hereby given to the various documents <br /> referred to above includes an approval of such additional details therein as may be necessary and <br /> appropriate for their completion, deletions therefrom and additions thereto as may be approved <br /> by bond counsel prior to the execution of the documents. The execution of any document or <br /> instrument by the aforementioned officials or employees of the Enterprise shall be conclusive <br /> evidence of the approval by the Enterprise of such document or instrument in accordance with <br /> the terms hereof and thereof. <br /> SECTION 7. Conclusive Recital. Pursuant to Section 11-57-210 of the Supplemental <br /> Act, the Financing Documents shall contain a recital that it is issued pursuant to certain <br /> provisions of the Supplemental Act. Such recital shall be conclusive evidence of the validity and <br /> the regularity of the issuance of the Note after its delivery for value. <br /> SECTION 8. Limitation of Actions. Pursuant to Section 11-57-212 of the Supplemental <br /> Act, no legal or equitable action brought with respect to any legislative acts or proceedings in <br /> connection with the Financing Documents shall be commenced more than thirty days after the <br /> issuance of the Note. <br /> SECTION 9. Limited Obligation; Special Obligation. The Financing Documents are <br /> payable solely from the Pledged Power Revenue and the Financing Documents do not constitute <br /> a debt within the meaning of any constitutional or statutory limitation or provision. <br /> SECTION 10. No Recourse against Officers and Agents. Pursuant to Section 1I- <br /> 57-209 of the Supplemental Act, if a member of the Board, or any officer or agent of the <br /> Enterprise acts in good faith,no civil recourse shall be available against such member, officer, or <br /> agent for payment of the principal of or interest on the Note. Such recourse shall not be <br /> available either directly or indirectly through the Board or the Enterprise, or otherwise, whether <br /> by virtue of any constitution, statute, rule of law, enforcement of penalty, or otherwise. By the <br /> acceptance of the Notes and as a part of the consideration of its sale or purchase, CWCB <br /> specifically waives any such recourse. <br /> SECTION 11. Disposition and Investment of Proceeds of the Loan Contract. The <br /> proceeds of the Loan Contract shall be applied only to pay the costs and expenses of acquiring, <br /> constructing and equipping the Project, including costs related thereto and reimbursement to the <br /> Enterprise for capital expenditures heretofore incurred and paid from Enterprise funds in <br /> anticipation of the incurrence of long-term financing therefor, and all other costs and expenses <br /> incident thereto, including without limitation the costs of obtaining the Loan Contract. CWCB <br /> shall not be responsible for the application or disposal by the Enterprise or any of its officers of <br /> the funds derived from the Loan Contract. <br /> SECTION 12. Estimated Life of Improvements. It is hereby determined that the <br /> estimated life of the Project to be financed with the proceeds of the Loan Contract is not less than <br /> the final maturity of the Loan. <br /> SECTION 13. Effective Date. This resolution shall take effect immediately upon its <br /> adoption. <br /> APPENDIX 4 <br />