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fees, legal liabilities not based on contract, expenses incurred in connection with Capital <br /> Improvements,payments due in connection with any bonds or other obligations,and charges for the <br /> accumulation of reserves. <br /> "System"means all of the water and sewer facilities and properties of the Enterprise, <br /> now owned or hereafter acquired,whether situated within or without the boundaries of the City of <br /> Walsenburg including all present or future improvements, extensions,enlargements, betterments, <br /> replacements, or additions thereof or thereto, which comprise the physical plant of the Enterprise. <br /> Section 6. Limitation of Actions. Pursuant to Section 11-57-212 of the <br /> Supplemental Act, no legal or equitable action brought with respect to any legislative acts or <br /> proceedings in connection with the Financing Documents shall be commenced more than thirty days <br /> after the issuance of the Promissory Note. <br /> Section 7. Limited Obligation;Special Obligation. The Financing Documents are <br /> payable solely from the Pledged Revenue and the Financing Documents do not constitute a debt <br /> within the meaning of any constitutional or statutory limitation or provision. <br /> Section 8. No Recourse against Officers and Agents. Pursuant to Section 11-57- <br /> 209 of the Supplemental Act, if a member of the Council,or any officer or agent of the City acts in <br /> good faith,no civil recourse shall be available against such member,officer,or agent for payment of <br /> the principal of or interest on the Promissory Note. Such recourse shall not be available either <br /> directly or indirectly through the Council or the City, or otherwise, whether by virtue of any <br /> constitution, statute, rule of law, enforcement of penalty, or otherwise. By the acceptance of the <br /> Promissory Note and as a part of the consideration of its sale or purchase,CWCB specifically waives <br /> any such recourse. <br /> Section 9. 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 City <br /> for capital expenditures heretofore incurred and paid from City funds in anticipation of the <br /> incurrence of long-term financing therefor, and all other costs and expenses incident thereto, <br /> including without limitation the costs of obtaining the Loan Contract. The CWCB shall not be <br /> responsible for the application or disposal by the City or any of its officers of the funds derived from <br /> the Loan Contract. <br /> 6 <br />