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<br />Section 9. During the year or years in which the Notes are outstanding, there shall
<br />be levied on all the taxable properry in the City, in addition to all other taxes, the same tax that
<br />would have been levied if the Bonds had been issued without the prior issuance of the Notes.
<br />The tax shall be within the 11.1-mill limitation provided by the Charter of the City, shall be
<br />and is ordered computed, certified, levied and extended upon the tax duplicate and collected by
<br />the same officers, in the same manner, and at the same time that taxes for general purposes for
<br />each of those years are certified, levied, extended and collected, and shall be placed before and
<br />in preference to all other items and for the full amount thereof. The proceeds of the tax levy
<br />shall be placed in the Bond Retirement Fund, which is inevocably pledged for the payment of
<br />the debt charges on the Notes or the Bonds when and as the same fall due.
<br />Section 10. The City covenants that it will use, and will restrict the use and
<br />investment of, the proceeds of the Notes in such manner and to such extent as may be
<br />necessary so that (a) the Notes will not (i) constitute private activity bonds, arbitrage bonds or
<br />hedge bonds under Section 141, 148 or 149 of the Internal Revenue Code of 1986, as amended
<br />(the Code), or (ii) be treated other than as bonds to which Section 103(a) of the Code applies,
<br />and (b) the interest on the Notes will not be treated as an item of tax preference under Section
<br />57 of the Code.
<br />The City further covenants that (a) it will take or cause to be taken such actions that
<br />may be required of it for the interest on the Notes to be and remain excluded from gross
<br />income for federal income tax purposes, (b) it will not take or authorize to be taken any
<br />actions that would adversely affect that exclusion, and (c) it, or persons acting for it, will,
<br />among other acts of compliance, (i) apply the proceeds of the Notes to the governmental
<br />purposes of the borrowing, (ii) restrict the yield on investment property, (iii) make timely and
<br />adequate payments to the federal government, (iv) maintain books and records and make
<br />calculations and reports, and (v) refrain from certain uses of those proceeds and, as applicable,
<br />of property financed with such proceeds, all in such manner and to the extent necessary to
<br />assure such exclusion of that interest under the Code.
<br />The Director of Finance, as the fiscal officer, or any other officer of the City
<br />having responsibility for issuance of the Notes is hereby authorized (a) to make or effect any
<br />election, selection, designation, choice, consent, approval, or waiver on behalf of the City
<br />with respect to the Notes as the City is permitted or required to make or give under the federal
<br />income tax laws, including, without limitation thereto, any of the elections provided for in
<br />Section 148(fl(4)(C) of the Code or available under Section 148 of the Code, for the purpose
<br />of assuring, enhancing or protecting favorable tax treatment or status of the Notes or interest
<br />thereon or assisting compliance with requirements for that purpose, reducing the burden or
<br />expense of such compliance, reducing the rebate amount or payments of penalties, or making
<br />payments of special amounts in lieu of making computations to determine, or paying, excess
<br />earnings as rebate, or obviating those amounts or payments, as determined by that officer,
<br />which action shall be in writing and signed by the officer, (b) to take any and all other actions,
<br />make or obtain calculations, make payments, and make or give reports, covenants and
<br />certifications of and on behalf of the City, as may be appropriate to assure the exclusion of
<br />interest from gross income and the intended tax status of the Notes, and (c) to give one or
<br />more appropriate certificates of the City, for inclusion in the transcript of proceedings for the
<br />Notes, setting forth the reasonable expectations of the City regarding the amount and use of all
<br />the proceeds of the Notes, the facts, circumstances and estimates on which they are based, and
<br />other facts and circumstances relevant to the tax treatment of the interest on and the tax status
<br />of the Notes.
<br />The Notes are hereby designated as "qualified tax-exempt obligations" for purposes
<br />of Section 265(b)(3) of the Code. In that connection, the City hereby represents and covenants
<br />that it, together with all its subordinate entities or entities that issue obligations on its behalf,
<br />or on behalf of which it issues obligations, in or during the calendar year in which the Notes
<br />are issued, (i) have not issued and will not issue tax-exempt obligations designated as
<br />"qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code, including the
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