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(c) the City hereby designates the Bonds as "qualified tax-exempt obligations" for <br />purposes of Section 265(b)(3) of the Code; <br /> <br /> (d) the reasonably anticipated amount of tax-exempt obligations (other than private <br />activity bonds, treating qualified 501 (c)(3) bonds as not being private activity bonds) <br />which will be issued by the City (and all entities treated as one issuer with the City, and <br />all subordinate entities whose obligations are treated as issued by the City) during this <br />calendar year 2001 will not exceed $10,000,000; and <br /> <br /> (e) not more than $10,000,000 of obligations issued by the City during this <br />calendar year 2001 have been designated for purposes of Section 265(b)(3) of the Code. <br /> <br />The City shall use its best efforts to comply with any federal procedural requirements which may <br />apply in order to effectuate the designation made by this paragraph. <br /> <br /> 29. Severability. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unen:~brceable for any reason, the invalidity or unenforceability of such section, <br />paraffaph or provision shall not affect any of the remaining provisions of this resolution. <br /> <br /> 30. Headinzs. Headings in this resolution are included for convenience of reference <br />only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br /> and, after a full discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: <br /> <br />and the following voted against the same: <br /> <br />Whereupon the resolution was declared duly passed and adopted. <br /> <br />1237483.[ <br /> <br />23 <br /> <br />-_111- <br /> <br /> <br />