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<br />when the official statement is to be "deemed final" (except for permitted omissions) by the City as
<br />of its date or is a final official statement for purposes of SEC Rule 15c2-12(b)(1), (3) and (4), (iii)
<br />use and distribute, ar authorize the use and distribution of those official statements and any
<br />suppiements thereto in connection with the original issuance of the Notes, and (iv) complete and
<br />sign those of?'icial statements as so appmved together with such certificates, statements or other
<br />documents in connection with the finality, accuracy and completeness of those official statements.
<br />Section 7. The proceeds from the sale of the Notes, except any premium and accrued
<br />interest, shall be paid into the proper fund or funds and those proceeds are appropriated and shall be
<br />used for the purpose for which the Notes are being issued. Any portion of those proceeds
<br />representing premium and accrued interest shail be paid into the Bond Retirement Fund.
<br />Section 8. The par value to be received from the sale of the Bonds or of any renewal
<br />notes and any excess funds resulting from the issuance of the Notes shall, to the eactent necessary, be
<br />used to pay the debt charges on the Notes at maturity and are piedged for that purpose.
<br />Section 9. During the yeaz or years in which the Notes are outstanding, there shall be
<br />levied on a11 the taxable pmperty in the City, in addition to ail other taxes, the same tax that would
<br />have been levied if the Bonds had been issued without the prior issuance of the Notes. The tax shall
<br />be within the 11.1-mill limitation provided by the Charter of the City, shall be and is ordered
<br />computed, certified, levied and extended upon the tax duplicate and collected by the same officers,
<br />in the same manner, and at the same time that taxes for general purposes far each of those years are
<br />certified, levied, eactended and collected, and shall be placed before and in preference to all other
<br />items and for the full amount thereof. The proceeds of the tax levy shall be placed in the Bond
<br />Retirement Fund, which is irrevocably pledged for the payment of the debt charges on the Notes or
<br />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 investment
<br />of, the proceeds of the Notes in such manner and to such extent as may be necessary so that (a) the
<br />Notes will not (i) constitute private activity bonds, azbitrage bonds or hedge bonds under Section
<br />141, 148 or 149 of the Internal Revenue Code of 1986, as amended (the Code), or (ii) be treated
<br />other than as bonds to which Section 103(a) of the Code applies, and (b) the interest on the Notes
<br />will not be an item of tax preference under Section 57 of the Code.
<br />T'he 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 income for
<br />federal income tax purposes, (b) it will not take or authorize to be taken any actions that would
<br />adversely affect that exclusion, and (c) it, or persons acting for it, will, among other acts of
<br />compliance, (i) apply the proceeds of the Notes to the governmental purposes of the borrowing, (ii)
<br />restrict the yield on investment property, (iii) make timely and adequate payments to the federal
<br />government, (iv) maintain books and records and make calculations and reports, and (v) refrain
<br />from certain uses of those proceeds and, as applicable, of property financed wnth such proceeds, all
<br />in such manner and to the extent necessary to 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 having
<br />responsibility for issuance of the Notes is hereby authorized (a) to make or effect any election,
<br />selection, designation, choice, consent, approval, or waiver on behalf of the City with respect to the
<br />Notes as the City is permitted or required to make or give under the federal income tax laws,
<br />including, without limitation thereto, any of the elections provided for in Section 148( fl(4)(C) of the
<br />Code or available under Section 148 of the Code, for the purpose of assuring, enhancing or
<br />protecting favorable tax treatment or status of the Notes or interest thereon or assisting compliance
<br />with requirements for that purpose, reducing the burden or expense of such compliance, reducing
<br />the rebate amount or payments of penalties, or making payments of special amounts in lieu of
<br />making computations to determine, or paying, excess earnings as rebate, or obviating those amounts
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