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<br />will not take or authorize to be taken any act.ions that would adversely affect
<br />that exclusion, and (c) it, or persons act:itig for it, wi.1J., among otlier act.s
<br />of compliance, (i) apply ttie proceeds of ttie Notes t:o the governmental
<br />purposes of the borrowing, (ii) restrict ttie yield on investment propert,y,
<br />(iii) make timely and adequate payments to the fede.ral government, (iv)
<br />maintain books and records and make calculaY,ions and reporls, and (v) ref_rain
<br />from certain uses of t.hose proceeds and, as applicable, of property f-inanced
<br />with such proceeds, all in such manner and t:o the extent necessary to assure
<br />such exclusion of that interest tinder the Code.
<br />The Dl.rector of Finance, as the fiscal officer, or any other off.icer
<br />of the City havi_ng responsibilfty for issuance of the Notes is Iiereby autho-
<br />rized (a) to make or effect any election, selection, designation, choice,
<br />consent, approvaJ., or waiver on behalf of the City with respect to the Notes
<br />as the City is permitted or required to make or give under ttie £ederal income
<br />tax laws, including, wi_thout li_mi.tation thereto, any of i.he elections provi_ded
<br />for in Secti.on 148(f)(4)(C) af the Cvde or available unde.r Section 148 of the
<br />Code, for the purpose of assuring, enhancing or protecting favorable tax
<br />treatment or status of the Notes or interest thPreon or assisting compliance
<br />with requirements for that purpose, reducing the burden or expense of such
<br />compliance, reducing the rebate amount or payments of penalties, or• maki.ng
<br />payments of special amounts in lieu of maki.ng computations to determine, or
<br />paying, excess earnings as rebate, or obviat.ing those amounts or payments, as
<br />determined by that officer, wh:ich action shall. be in writing and signed by the
<br />officer, (b) to take any and all otkier actions, make or obtain calculatioris,
<br />make payments, and make or, give repor.ts, covenants and cerYif.i.cati.ons of and
<br />on behalf of the City, as may be appropriat:e to assure the exclusion of inter-
<br />est from gross income and the intended tax status of the Notes, and (c) to
<br />give one or more appropriate certificates of the City, for inclusion iii the
<br />transcript of proceedings for the Not.es, setting forth t.he reasonable expecCa-
<br />tions of the City regar.di.ng the amount and use of all tlie proceeds of ttie
<br />Notes, the facts, ci.rcttmstances and estimates on which they are based, and
<br />other facts and circtimstances relevant to the tax treatment of the interest on
<br />and the tax status of the Notes.
<br />Sect.i.on 11. The Cl.erk of Coiincil is di.rected to deliver a certified
<br />copy of this ordinance to tYie County Auditor.
<br />Seci:ion 12. This Counc.il deter.mines ttiat all acts and conditi.ons
<br />necessary T.o be done or perfarmed by ttie City o.r t.o have been met precedent to
<br />and iii the issuing of the Notes in order to make them legal, valid and binding
<br />general obligations of the Ci.ty have been performed and have been met, or wi_11
<br />at the time of delivery of the Notes have been performed and liave been met., in
<br />regular and due form as reyuired by law; that the fixll faith and credit and
<br />general property taxing power (as descra.bed in Secti.on 9) of the City are
<br />pledged for t;he timely payment of ttie debt charges on the Notes; and that no
<br />statutory or constitutional limitation of indebtedness or t.axation wi.ll liave
<br />been exceeded in ttie issuance of ttie Notes.
<br />Section 13. This Counci.l finds and determitles ttiat alJ_ formal
<br />actions of this Council concerning and relating To tfie passage of tlii.s ordi-
<br />nance were taken in an open meeting of this Council and Yhat all deli.berati.ons
<br />of thi.s Council and of any committees ttiat x-esulted in those formal actions
<br />were in meetings open to the public in compliance with the law.
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