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sold to the public at or below the initial offering prices or (2) the <br />Notes were purchased by the original purchaser for holding for its <br />account, as the case may be, and (c) certifying that the yield supplied <br />to the City is that yield which, when used in computing the present <br />value of all payments of principal and interest on the Notes, produces <br />an amount equal to the issue price. <br /> <br />In the event that, prior to their delivery, the interest on the Notes <br />should by any act of Congress or otherwise become subject to federal <br />income tax, or any act of Congress should provide that the interest <br />income on the Notes shall be taxable at a future date for federal income <br />tax purposes, whether directly or indirectly, the original purchaser may <br />refuse to accept delivery. The City will furnish the transcript of <br />proceedings and a certificate that to the knowledge of the signers no <br />litigation or administrative action or proceeding is pending or threa- <br />tened at the time of initial delivery to restrain or enjoin, or seeking <br />to restrain or enjoin, the issuance and delivery of the Notes, or the <br />levy and collection of the taxes for their payment, or to contest or <br />question the proceedings and authority under which the Notes have been <br />authorized, issued, sold, executed or delivered or the validity of the <br />Notes. <br /> <br />Any questions concerning the Notes should be addressed to: Leonard A. <br />Mikula, Director of Finance, City of Lakewood, 12650 Detroit Avenue, <br />Lakewood, Ohio 44107, Telephone: 521-7580, Area Code: 216. <br /> <br />Dated: April 20, 1989 <br /> <br />134S18/14282K <br /> <br />-5- <br /> <br /> <br />