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to use the Project, or to cause or permit them to be used, or to enter into any deferred payment <br /> arrangements for the cost of the Project, in such a manner as to cause the Series 2016B Bonds to <br /> be"private activity bonds"within the meaning of Sections 103 and 141 through 150 of the Code. <br /> Section 21. Tax-Exempt Status of the Series 2016B Bonds; Rebate. The Commission <br /> and the City shall comply with requirements necessary under the Code to establish and maintain <br /> the exclusion from gross income under Section 103 of the Code of the interest on the Series <br /> 2016B Bonds, including without limitation (a) requirements relating to temporary periods for <br /> investments, (b) limitations on amounts invested at a yield greater than the yield on the Series <br /> 2016B Bonds, and(c)the rebate of excess investment earnings to the United States. <br /> Section 22. Official Statement. The Official Statement relating to the Series 2016B <br /> Bonds, prepared and distributed by Springsted is hereby approved and the officers of the <br /> Commission are authorized in connection with the delivery of the Series 2016B Bonds, to sign <br /> such certificates as may be necessary with respect to the completeness and accuracy of the <br /> Official Statement. <br /> Section 23. Effective Date. This Resolution, having been concurred in by the City <br /> Council by resolution adopted May 16, 2016, shall be effective immediately. <br /> 105 <br />