4.0. EDSR 11-10-1997 - Laserfiche WebLink

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complete performance of all the terms, covenants and agreements 41, contained in the Bonds, the Bond Documents and this resolution. 8 . Furnishing of Certificates and Proceedings . The President and the Secretary and other officers of the Authority are authorized to prepare and furnish to the Purchaser and to bond counsel for the Bonds certified copies of all proceedings and records of the Authority relating to the Bonds, and such other affidavits and certificates as may be required to show the facts relating to the Bonds as such facts appear from the books and records in the officers' custody and control or as otherwise known to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the Authority as to the truth of all state- ments contained therein. 9 . Negative Covenant as to Use of Project . The Authority hereby covenants not to use the Project or to cause or permit the Project to be used, or to enter into any deferred payment arrangements for the cost of the Project, in such a manner as (or to take any action or permit any other circumstance to exist or any action to be taken, the effect to which would be) to cause the Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the Code. In particular, but without limitation, the Authority covenants to forebear the implementation, effectuation or enforcement of any and all contracts or other agreements respecting the Project or any property benefitted thereby or assessed with respect thereto, which it 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 to become such "private activity bonds, " and to said limited extent the Authority would and hereby does (solely for the benefit of the owners of the Bonds) disavow any and all such provisions, entitlements and enforcements which would or could become so offending. 10 . Arbitrage Rebate. The Authority 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 if and to the extent applicable to the Bonds . While the Authority does not expect that the Bonds will qualify for the $5, 000, 000 small issuer exception, the Authority may avail itself of such other arbitrage rebate exceptions as may apply to the Bonds in whole or in part. 11 . Bonds Are "Bank-Qualified" . The Authority hereby designates the Bonds as a "qualified tax-exempt obligations" 368962.1 4