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WHEREAS, the City is not delinquent in the payment of any principal or interest <br /> requirements under the Prior Bonds;and <br /> WHEREAS,pursuant to Title 31, Article 35,Part 4,C.R.S. (the"Sewer and Water <br /> Systems Act") and the Enterprise Act,the Financing Documents may be approved by the Council <br /> without an election; and <br /> WHEREAS, there have been presented to the Council the forms of the Financing <br /> Documents; and <br /> WHEREAS,the Council desires to approve the forms of the Financing Documents <br /> and authorize the execution thereof; and <br /> WHEREAS, none of the members of the Council has any potential conflicting <br /> interests in connection with the authorization, issuance, or sale of the Promissory Notes or other <br /> obligations, or the use of the proceeds thereof. <br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WALSENBURG, <br /> COLORADO, ACTING AS THE GOVERNING BODY OF THE CITY OF WALSENBURG <br /> WATER AND SEWER ACTIVITY ENTERPRISE: <br /> Section.1_-.---_- Approvals, Authorizations,and_Amendments.___The_.forms._ofthe___ _ _ - <br /> Financing Documents presented at this meeting are incorporated herein by reference and are hereby <br /> approved. The City shall enter into and perform its obligations under the Financing Documents in <br /> the forms of such documents,with such changes as are not inconsistent herewith and as are hereafter <br /> approved by the Mayor of the City (the "Mayor"). The Mayor and City Clerk of the City (the <br /> "Clerk")are hereby authorized and directed to execute the Financing Documents and to affix the seal <br /> of the City thereto,and further to execute and authenticate such other documents or certificates as are <br /> deemed necessary or desirable in connection therewith. The Financing Documents shall be executed <br /> in substantially the forms approved at this meeting. <br /> The execution of any instrument or certificate or other document in connection with <br /> the matters referred to herein by the Mayor and Clerk or by other appropriate officers of the City, <br /> shall be conclusive evidence of the approval by the City of such instrument. <br /> Section 2. Election to Apply Supplemental Act. Section 11-57-204 of the <br /> Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the <br /> "Supplemental Act")provides that a public entity,including the City,may elect in an act of issuance <br /> 3 <br />