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as the County Auditor shall require and the County Auditor shall issue a certificate that the <br />Bonds have been entered in the County Auditor's Bond Register and that the tax levy required by <br />law has been filed and levied. <br /> <br /> 21. Records and Certificates. The officers of the City are hereby authorized and <br />directed to prepare and furnish to ~be Purchaser, and to the attomeys approving the legality of the <br />issuance of the Bonds, certified .copies of ali Proceedings and records of the City relating to the <br />Bonds and to the financial condition and affairs' of the City, and such other affidavits, certificates <br />and information as are required t0!show thelfaCts irelating to the legality and marketability of the <br />Bonds as the same appear from thb books and records under their custody and control or as <br />otherwise known to them, and all. such certified~mpies, certificates and affidavits, including any <br />heretofore furnished, shall be deemed representations of the City as to the facts recited therein. <br /> <br /> 22. Negative Covenan~ as to Us° Bond Proceeds and Project. The City hereby <br />covenants not to use the proceeds bfthe Bonds or to use the Project, or to cause or permit it to be <br />used, or to enter into any deferred Payment arrangements for the cost of the Project, in such a <br />manner as to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 <br />and 141 through 150 of the Code. <br /> <br /> 23. Tax-Exempt statU~iofthe Bonds; Rebate. The City shall comply with <br />requirements necessary under the Code to establish and maintain the exclusion from gross <br />income under Section 103 of the Code of the inteiest on the Bonds, including without limitation <br />(a) requirements relating to tempOrary periods for investments, (b) limitations on amounts <br />invested at a yield greater than the yield on he BOnds, and (c) the rebate of excess investment <br />earnings to the United States if the Bonds (together with other obligations reasonably expected to <br />be issued and outstanding at one time in this calendar year) exceed the small-issuer exception <br />amount of $5,000,000. <br /> <br /> For purposes of qualifyinglfor the exceptiOn to the federal arbitrage rebate requirements <br />for governmental units issuing $5,000,000 or lessofbonds, the City hereby finds, determines and <br />declares that (a) the Bonds are issued bY a governmental unit with general taxing powers, Co) no <br />Bond is a private activity bond, (e) ninety,five percent or more of the net proceeds of the Bonds <br />are to be used for local governmental activiti~ of the City (or of a governmental unit the <br />jurisdiction of which is entirely withinthe jurisdiction of the City), and (d) the aggregate face <br />amount of all tax-exempt bonds (other than private activity bonds) issued by the City (and all <br />subordinate entities thereof, and gl entities _treated as one issuer with the City) during the <br />calendar year in which the Bondsare issuedis not reasonably expected to exceed $5,000,000, all <br />within the meaning of Section 148(f)(4)(D) of the Code. <br /> <br /> 24. No Designation as. Qualified Tax'Exempt Obligations. The Bonds are not issued <br />as "qualified tax exempt obligations" within the meaning of Section 265CO)(3) of the Code. <br /> <br /> 25. Refundhag Requirements. <br /> <br /> (a) Until retirement of the Prior BOnds, all provisions theretofore made for the <br />security thereof shall be observed by the City and.the EDA and all of its officers and agents. <br /> <br />1700675vl 18 <br /> <br /> <br />