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<br />resulting from an office, trust or station of the Issuer and its officers within
<br />the meaning of Section 2731.01, Ohio Revised Code.
<br />
<br />(e) The Issuer has not heretofore made or suffered to exist any
<br />pledges of or liens on the Levy. Except as permitted by this General Bond
<br />Legislation, the Issuer will not make any pledge or assignment of, or create any
<br />lien or encumbrance upon, the Levy, having a priority higher than or equal to
<br />that of the Bonds and Notes.
<br />
<br />(f) Subject to Section 38 hereof, the Issuer shall not, in any
<br />ordinance, trust agreement, or other contract or agreement, or in any other
<br />manner, provide for, authorize or permit any dimillUtion in the powers, duties Or
<br />authority of the Fiscal Agent from those provided herein; provided that nothing
<br />in this Ordinance shall be deemed to prevent the Issuer from adding, with the
<br />consent of the Fiscal Agent, to the powers, duties or authority of the Fiscal
<br />Agent in any manner that does not result in diminution of any other powers,
<br />duties or authority of the Fiscal Agent.
<br />
<br />section 14.
<br />covenants that it will:
<br />
<br />Comt>liance with Certain Laws.
<br />
<br />The Issuer hereby
<br />
<br />(a) comply with Sections 5705.28 and 5705.30 of the Ohio Revised
<br />Code, and other laws with respect to the timeliness of the adoption of its tax
<br />budget and the filing of its tax budget with the Auditor of Cuyahoga County.
<br />
<br />(b) Notify the Fiscal Agent in writing on Or prior to July 1 of
<br />each year during which the Bonds or Notes are outstanding of the date on which
<br />the tax budget for the next succeeding fiscal year is scheduled for adoption by
<br />its Legislative Authority and filing by its ,Iayor with the County Budget
<br />commission.
<br />
<br />(c) (i) Include in each annual appropriation ordinance of the
<br />Issuer for any fiscal year during 'which Bonds or Notes are outstanding an
<br />appropriation sufficient in amount to pay all amounts due and payable in such
<br />fiscal year, including, without limitation, all such amounts due and payable in
<br />such fiscal yelir under Chapters 145 and 742 of the Ohio Revised Code, the
<br />nonpayment of which would permit the withholding of certain revenues of the
<br />Issuer, including proceeds of the Levy, by any elected or appointed officer of
<br />the State of Ohio or the County of Cuyahoga, Ohio, and the use thereof to pay
<br />such unpaid amounts and (ii) pay all such amo\!nts when the same become due and
<br />pliyable.
<br />
<br />(d) Restrict, and that it will take such actions as are reasonably
<br />necessary to require the Fiscal Agent in its capacity as Fiscal Agent to
<br />restrict, the use of the proceeds of the Bonds and Notes in such manner and to
<br />such extent, if any, as may be necessary, after taking into account reasonable
<br />expectations at the time of the delivery of and payment for Bonds or Notes, so
<br />that the Bonds or Notes will not constitute arbitrage bonds under Section 148 of
<br />the Code and the applicable regulations prescribed \!nder that Section. To that
<br />end, the Authorized Official, or any other officer having responsibility for
<br />issuing Bonds and Notes, shall, alone or with any other officer, agent, or
<br />employee of or consultant to the Issuer, give an appropriate certificate of the
<br />Issuer for inclusion in the transcript of proceedings for Bonds or Notes, as the
<br />case may be, setting forth the reasonable expectations of the Issuer regarding
<br />the amount and use of all the proceeds of such Bonds or Notes and the facts,
<br />estimates, and circumstances on which those exceptions are based, all as of the
<br />date of delivery of and payment for such Bonds or Note¡¡.
<br />
<br />(e) Take all actions that may be required of the Issuer for the
<br />interest on Bonds and Notes to be and remain excludable from gross income for
<br />federal income tax purposes, and that it has not taken and will not take or omit
<br />to take any actions which, if taken or omitted, would adversely affect such
<br />
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