5.3. SR 08-02-2004 - Laserfiche WebLink

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Section 16. County Auditor Registration, Certification of Proceedings, Investment of Money Arbitrage, Designation of Bonds as Qualified Tax Exempt Obligations and Official Statement. 16.01. County Auditor Registration. The Secretary is hereby authorized and directed to file a certified copy of this Resolution and the resolution adopted by the City Council concurring in the adoption of this Resolution with the County Auditor of Sherbume County, together with such other information as the County Auditor shall require, and to obtain from the County Auditor a certificate that the Series 2004A Bonds have been entered on the County Auditor's bond register, as required by law. 16.02. Certification of Proceedings. The officers of the City and the Commission and the County Auditor of Sherbume County are hereby authorized and directed to prepare and furnish to the Purchaser of the Series 2004A Bonds and to bond counsel certified copies of all proceedings and records of the City and the Commission and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of the Series 2004A Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City and the Commission as to the facts recited therein, 16.03. Tax Covenant. The Commission and the City covenant and agree with the Holders from time to time of the Bonds that they will not take or permit to be taken by any of their officers, employees or agents any action which would cause the interest on the Bonds to become subject to taxation under the Code and the Treasury Regulations promulgated thereunder, and covenant to take any and all actions within their powers to ensure that the interest on the Bonds will not become subject to taxation under the Code and the Regulations. The Commission will cause to be filed with the Secretary of Treasury an information reporting statement in the form and at the time prescribed by the Code. 16.04. Arbitrage Certification. The Mayor and City Clerk-Treasurer and the President and Secretary of the Commission, being the officers of the City and the Commission charged with the responsibility for issuing the Series 2004A Bonds pursuant to this Resolution, are authorized and directed to execute and deliver to the Purchaser a certificate in accordance with the provisions of Section 148 of the Code and applicable Treasury Regulations, stating the facts, estimates and circumstances in existence on the date of issue and delivery of the Series 2004A Bonds which make it reasonable to expect that the proceeds of the Series 2004A Bonds will not be used in a manner that would cause the Series 2004A Bonds to be arbitrage bonds within the meaning of the Code and Regulations. 16.05. Exemption from Rebate Requirement. For purposes of complying with the requirements of Section 148(f)(4)(D) of the Code relating to the exemption of certain small governmental units from the rebate requirements of the Code, the Commission represents that. (i) the City is a governmental unit with general taxing powers; 1670578vl 25