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(ii) The principal amount of the Loan; <br /> (iii) The amount of principal of the Loan maturing in any given year and the <br /> final maturity of the Loan; <br /> (iv) The conditions on which and the prices at which the Loan may be paid <br /> prior to maturity; <br /> (v) The dates on which the principal of and interest on the Loan are paid, if <br /> any; and <br /> (vi) The existence and amount of reserve funds for the Loan, if any. <br /> (b) The delegation in paragraph (a) of this Section 3 shall be subject to the <br /> parameters and restrictions: (i) the interest rate on the Loan shall not exceed 1.85%; (ii) the <br /> principal amount of the Loan shall not exceed$404,000; and(iii)the final maturity of the Loan <br /> shall not be later than ten (10)years after Substantial Completion of the Project. <br /> Section 4. Conclusive Recital. Pursuant to Section 11-57-210 of the Supplemental Act, <br /> the Financing Documents shall contain a recital that they are issued pursuant to the <br /> Supplemental Act. Such recital shall be conclusive evidence of the validity and the regularity <br /> of the issuance of the Financing Documents after their delivery for value. <br /> Section 5. Pledge of Revenues. The creation,perfection, enforcement, and priority of <br /> the pledge of revenues, if any,to secure or pay the Financing Documents provided herein shall <br /> be governed by Section 11-57-208 of the Supplemental Act and this Resolution. The revenues <br /> pledged to the payment of the Financing Documents,if any, shall immediately be subject to the <br /> lien of such pledge without any physical delivery,filing or further act. The lien of such pledge, <br /> if any, shall have the priority described in the Loan Agreement. The lien of such pledge,if any, <br /> shall be valid,binding, and enforceable as against all persons having claims of any kind in tort, <br /> contract, or otherwise against the District irrespective of whether such persons have notice of <br /> such liens. <br /> Section 6. 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 /> date of adoption of this Resolution. <br /> 3 <br />