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tiftcation is based upon all the relevant facts and circum, stances in <br />existence, including those more particularly to be set forth in the cer- <br />tificate of the fiscal officer entitled "I!{C ~]ection 103(d) Certificate" <br />which shall be incorporated in the transcrint of :.roceedin~?s ~,ertaining <br />to such Notes and which certificate is adopted an~ incorporated herein by <br />reference. The City covenants to the purchasers of such notes that it %;ill <br />make no use of the proceeds of such note under which, if subh use had [~een <br />reasonably expected on the date of issue of such note, would have caused <br />it to be an arbicrage bond under Section 103(d) of the Internal Revenue <br />Code of 19~h, as ~'rnended, as in effect on the date of such issue, and any <br />Valid regulations thereunder, and that it uill comply with the recuirements <br />of said Section 103(d) and the requirements of an), valid regulations there- <br />under, all to the extent as may be necessary, at the time of the use of <br />such proceeds, so that such use will not caus.e such note to be an arbitrac~e <br />bond under Section 103(d) of the Internal Revenue Code of 195~, as amended. <br /> <br /> Section 9. In the event that such assessments are not levied or <br />bonds are not issued to provide a fund for the payment of said note at <br />maturity, a general tax shall be levied against all of the :~rooerty in said <br />City for the pa~T.~nt of ~uch note ~ud the "-nterest thereon; provided, how- <br />ever, that during the year or years while such note runs there shall be <br />levied on all. the taxable property in said City, in addition to all other <br />taxes, a direct tax annually not less than that ~:hich would have been levied <br />for the City'c portion of zaid note, if bonds l~ad been issued therefor with- <br />out the prior~.issue of said notes. <br /> <br /> Said tax shall be and i~ hereby ordered computed, certified, levied <br />and extended upon the tax duplicate and collected by the same officers, in the <br />same m~nner and at the sam. e time that taxes for general purposes for each of <br />said years are certified, extended and collected. Said tax sh--~ll be placed <br />before and in 2reference to all other items ~ud for the full ~.uount therecf. <br />The f~ds derived from said tax levies hereby required shall be nlaced in a <br />separate and distinct f~uad, :~hich, together with the interest coilected on .. <br />the s~e, shall be irrevocably pledged for the payment of the principal and <br />interest of said note or the bonds in s~utictpation of which it is issued <br />when s~ud as the same fall due. <br /> <br /> Section 10. The Clerk of this Council is hereby directed to for- <br />ward.-a certified copy of this ordin~tce to the County Auditor. <br /> <br /> Section 11. That this ordinance, having been declared to be an <br />emergency measure, shall be in full force and[ effect from and immediately <br />a~ter its passage and approval by the Mayor, <br /> <br />__, 1972 <br /> <br /> President <br /> <br />Clerk of ~Council <br /> <br /> <br />