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Notes as "qualified tax-exempt obligations". Further, the City represents and covenants that, during
<br />any time or in any manner as might affect the status of the Notes as "qualified tax-exempt
<br />obligations", it has not formed or participated in the formation of; or benefited from or availed itself
<br />of, any entity in order to avoid the purposes of subparagraph (C) or (D) of Section 265(b)(3) of the
<br />Code, and will not form, participate in the formation of, or benefit from or avail itself of, any such
<br />entity. The City further represents that the Notes are not being issued as part of a direct or indirect
<br />composite issue that combines issues or lots oftax-exempt obligations of different issuers.
<br />The Director of Finance or any other officer of the City having responsibility for issuance
<br />of the Notes is hereby authorized (a) to make or effect any election, selection, designation,
<br />choice, consent, approval or waiver on behalf of the City with respect to the Notes as the City is
<br />permitted to or required to make or give under the federal income tax laws, .including, without
<br />limitation thereto, any of the elections provided for in Section. 148(f)(4)(C} of the Code or
<br />available under Section 148 of the Code, for the purpose of assuring, enhancing or protecting
<br />favorable tax treatment or status of the Notes or interest thereon or assisting compliance with
<br />requirements for that purpose, reducing the burden or expense of such compliance, reducing the
<br />rebate amount or payments or penalties, or making payments of special amounts in lieu of
<br />making computations to deterrnine, or paying excess earnings as rebate, or obviating. those
<br />amounts or payments, as determined by that officer, which action shall be in writing and signed
<br />by the officer, (b) to take any and all other actions, make or obtain calculations, make payments,
<br />and make or give reports, covenants and certifications of and on behalf of the City, as may be
<br />appropriate to assure the exclusion of interest from gross income and the intended tax status of
<br />the Notes, and (c) to give one or more appropriate certificates of the City, for inclusion in the
<br />transcript of proceedings for the Notes, setting forth the reasonable expectations of the City
<br />regarding the amount and use of all the proceeds of the Notes, that facts circumstances and
<br />esfimates on which they are based, and other facts and circumstances relevant to the tax
<br />treatment of the interest on and the tax status of the Notes.
<br />Secfion 11. If, in the judgment of the Director of Finance, the filing of an application for
<br />(a) a rating on the Notes by one or more nationally-recognized rating agencies, or (b) a policy of
<br />insurance from a company or companies to better assure the payment of principal of and interest on
<br />the Notes, is in the best interest of and financially advantageous to this City, the Director of Finance
<br />is authorized to prepare and submit those applicafions, to provide to each such agency or company
<br />such information as may be required for the purpose, and to provide further for the payment of the
<br />cost of obtaining each such rating or policy, except to the extent otherwise paid in accordance with
<br />the Note Purchase Agreement, from the proceeds of the Notes to the extent available and otherwise
<br />from any other funds lawfully available and that are appropriated or shall be appropriated for that
<br />purpose. To the extent the Director of Finance has taken such actions, those actions are hereby
<br />ratified and confirmed.
<br />Section 12. The Director of Finance is directed to deliver a certified copy of this
<br />Ordinance and the Final Terms Certificate to the County Fiscal Officer.
<br />Section 13. The Clerk of Council is directed to give public notice of the passage of this
<br />Ordinance in accordance with Article III, Section 12 of the Charter.
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