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Section 22. PAYMENT AND PERFORMANCE ON BUSINESS DAYS. Except as
<br /> provided to the contrary in the FORM OF NOTE, whenever under the terms of this Resolution or
<br /> the Note, the performance date of any provision hereof or thereof, including the payment of
<br /> principal of or interest on the Note, shall occur on a day other than a Business Day, then the
<br /> performance thereof, including the payment of principal of and interest on the Note, need not be
<br /> made on such day but may be performed or paid, as the case may be, on the next succeeding
<br /> Business Day with the same force and effect as if made on the date of performance or payment.
<br /> Section 23. LIMITATION OF BENEFITS WITH RESPECT TO THE
<br /> RESOLUTION. With the exception of the rights or benefits herein expressly conferred, nothing
<br /> expressed or contained herein or implied from the provisions of this Resolution or the Note is
<br /> intended or should be construed to confer upon or give to any person other than the Board, the
<br /> Registered Owners, and the Paying Agent/Registrar, any legal or equitable right, remedy, or
<br /> claim under or by reason of or in respect to this Resolution or any covenant, condition,
<br /> stipulation, promise, agreement, or provision herein contained. This Resolution and all of the
<br /> covenants, conditions, stipulations, promises, agreements, and provisions hereof are intended to
<br /> be and shall be for and inure to the sole and exclusive benefit of the Board, the Registered
<br /> Owners, and the Paying Agent/Registrar as herein and therein provided.
<br /> Section 24. CUSTODY, APPROVAL, BOND COUNSEL'S OPINION, CUSIP
<br /> NUMBERS AND PREAMBLE. The Authority Representative is hereby authorized to have
<br /> control of the Note issued hereunder and all necessary records and proceedings pertaining to the
<br /> Note pending its delivery and approval by the Attorney General of the State. The Authority
<br /> Representative is hereby authorized, to the extent deemed necessary or advisable thereby, in the
<br /> discretion thereof, to request that the Attorney General approve the Note as permitted by Chapter
<br /> 1202, Texas Government Code, in which case the Authority Representative also is authorized to
<br /> request the Comptroller of Public Accounts register the Note, and to cause an appropriate legend
<br /> reflecting such approval and registration to appear on the Note and the substitute Notes. The
<br /> approving legal opinion of the Board's Bond Counsel and the assigned CUSIP numbers may, at
<br /> the option of the Board, be printed on the Note and on any Notes issued and delivered in
<br /> exchange or replacement of any Note, but neither shall have any legal effect, and shall be solely
<br /> for the convenience and information of the Registered Owners of the Note. The preamble to this
<br /> Resolution is hereby adopted and made a part of this Resolution for all purposes.
<br /> Section 25. CONTINUING DISCLOSURE UNDERTAKING. Except as may
<br /> otherwise be provided in Exhibit "D" to this Resolution, the Authority is not required to make,
<br /> and does not make, any continuing disclosure undertaking pursuant to the Rule.
<br /> Section 26. APPLICATION OF NOTE PROCEEDS. (a) Proceeds from the sale of
<br /> the Note shall, promptly upon receipt thereof, be applied by the Authority Representative as
<br /> follows:
<br /> (i) accrued interest, if any, for the Note shall be deposited as provided in
<br /> Section 9(a);
<br /> (ii) an amount sufficient to accomplish the purposes of Section 2(b) shall be
<br /> deposited to the Project Fund; and
<br /> ARWA\BAN\2023:Authorizing Resolution 18
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