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Furthermore: <br /> <br /> (i) each of the Prior Bonds was issued as part of an issue which was treated as <br />meeting the rebate requirements by reason of the exception for governmental units <br />issuing $5,000,000 or less of bonds; <br /> <br /> (ii) the average maturity of the Bonds does not exceed the remaining average <br />maturity of the Prior Bonds; and <br /> <br /> (iii) no maturity of the Bonds has a maturity date which is later than the date <br />which is thirty (30) years after the dates the Prior Bonds were issued. <br /> <br /> 28. Designation of Qualified Tax-Exempt Obligations. In order to qualify the Bonds <br />as "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code, the <br />City hereby makes the following factual statements and representations: <br /> <br />(a) the Bonds are issued after August 7, 1986; <br /> <br />(b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; <br /> <br /> (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) which will <br />be issued by the City (and all entities treated as one issuer with the City, and all subordinate <br />entities whose obligations are treated as issued by the City) during this calendar year 2003 will <br />not exceed $ l 0,000,000; <br /> <br /> (e) not more than $10,000,000 of obligations issued by the City during this calendar <br />year 2003 have been designated for purposes of Section 265(b)(3) of the Code; and <br /> <br />(f) the aggregate face amount of the Bonds does not exceed $10,000,000. <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. Supplemental Resolution. The Prior Resolution is hereby supplemented to the <br />extent necessary to give effect to the provisions of this resolution. <br /> <br /> 30. Severability.. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining provisions of this resolution. <br /> <br /> 31. Headings. 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 />18 <br /> <br /> <br />