35-09 Anticipation Notes $4,321,000 Capital Improvements

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(c) Arbitrage Rebate. Unless the gross proceeds of the Notes are expended in accordance with one of the spending period exceptions set forth in Treas. Reg. §1.148-7, the City will pay the amounts zequized by Code Section 148(f)(2) to the United States at the times required by Code Section 148{f)(3). The City will maintain the books and records and make the calculations and reports that are required to comply with the Code's arbitrage rebate requirements. (d) Federal Guarantee. The City will not permit the use of the Projects, or make loans of the proceeds of the Notes, or invest the proceeds of the Notes in a manner as to cause the Notes to be "federally guaranteed" within the meaning of Code Section 149(b). (e) Information Reporting. This Council authorizes and directs the Director of Finance or any other official of the City having responsibility for issuing the Notes to sign and file a Form 8038-G for the Notes with the Inteznal Revenue Service. (f) Bank-Qualified Obligations. This Council designates the Notes as "qualified tax-exempt obligations" under Code Section 265(b)(3). Section 13. Sisnina and Delivery of Notes and Documents. This Council authorizes and directs the Mayor and the Director of Finance, or the persons designated in their absence, to sign and deliver the Notes in accordance with Section 5 of this ordinance. This Council authorizes and directs the Mayor or the Director of Finance to sign and approve a preliminary official statement, a (anal official statement, and amendments and supplements to both in accordance with Section 8 ofthis ordinance. (a) This Council authorizes and directs the Director of Finance to sign and deliver, on behalf ofthe City: (1) The Certificate of Award. (2) Any Purchase Agreement. (3) The Registrar Agreement. (4) The Continuing Disclosure Certificate. (5) Any agreements or letters of representation in connection with aBook-Entry System for the Notes. (6) Applications for and agreements in connecfion with obtaining a poficy of municipal bond insurance for the Notes. ('7) Applications for and agreements in connection with obtaining. one or more ratings for the Notes. 1]