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such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 21. Negative Covenant as to Use of Proceeds and Improvements. The City hereby represents that it has not used, and hereby covenants that it will not use, and that it has not permitted and will not permit any such uses, the proceeds of the Bonds, or the Improvements, or the projects (the "Projects") financed by (or the proceeds of) the Prior Bonds in such a manner as to cause the Bonds or the Prior Bonds to be "private activity bonds" under Sections 103 and 141 through 150 of the Code. In particular, but without limitation, the City covenants to forebear the implementation, effectuation or enforcement of any and all contracts or other agreements respecting the Improvements, the Projects or any property benefitted thereby or assessed with respect thereto, which the City may now or in the future have with developers, contractors, owners or any other person or parties to the extent that such implementation, effectuation or enforcement would (individually or in the aggregate) cause the Bonds or the Prior Bonds to become such "private activity bonds," and to said limited extent the City would and hereby does (solely for the benefit of the owners of the Bonds) disavow any and all such provisions, entitlements and enforcements. 22. Tax-Exempt Status of the Bonds; Rebate. The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Bonds, including without limitation (1) requirements relating to temporary periods for investments, (2) limitations on amounts invested at a yield greater than the yield on the Bonds, and (3) the rebate of excess investment earnings to the United States and to the extent applicable. As indicated below, the 1993 Refunding Bonds and the Nonrefunding Bonds (but not the 1994 Refunding Bonds) are being qualified under the small issuer exception to arbitrage rebate. For purposes of qualifying the 1993 Refunding Bonds and the Nonrefunding Bonds for the small issuer exception to the federal arbitrage rebate requirements, the City hereby finds, determines and declares that (1) the Bonds are issued by a governmental unit with general taxing powers, (2) no Bond is a private activity bond, (3) ninety-five percent (95%) or more of the net proceeds of the Bonds are to be used for local governmental activities of the City (or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the City), and (4) the aggregate face amount of all tax-exempt obligations (other than private activity bonds) issued by the City (and all entities subordinate to, or treated as one issuer with, the City) during the 2003 calendar year is not reasonably expected to exceed $5,000,000, all within the meaning of Section 148(f)(4)(D) of the Code. For purposes of substantiating the determination that the 1993 Refunding Bonds, being refunding bonds, are eligible for exception from rebate pursuant to the above, in particular because they meet the applicable requirements set out in Section 148(f)(4)(D)(v) of the Code, the City hereby represents and determines that (1) the 1993 Bonds were issued in 1993 by the City, which was at that time and is now a governmental unit with general 'taxing powers; (2) the 1993 Bonds were not private activity bonds under Sections 103 and 141 through 150 of the Code, and the City qualified the 1993 Bonds within the "small-issuer" exception of Section 148(f)(4)(D) of 1580841vl 21