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to the financial condition and affairs of the Commission and the City, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of the Series 2014A 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 Commission and the City as to the facts recited therein. Section 20. Negative Covenant as to Use of Bond Proceeds and Project. The Commission and the City hereby covenant not to use the proceeds of the Series 2014A Bonds or to use the Project, or to cause or permit them to be used, or to enter into any deferred payment arrangements for the cost of the Project,in such a manner as to cause the Series 2014A Bonds to be"private activity bonds"within the meaning of Sections 103 and 141 through 150 of the Code. Section 21. Tax-Exempt Status of the Series 2014A Bonds; Rebate. The Commission and 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 Series 2014A Bonds, including without limitation (a) requirements relating to temporary periods for investments, (b) limitations on amounts invested at a yield greater than the yield on the Series 2014A Bonds, and (c) the rebate of excess investment earnings to the United States, if the Series 2014A Bonds (together with other obligations reasonably expected to be issued and outstanding at one time in this calendar year)exceed the small-issuer exception amount of$5,000,000. Section 22. Designation of Qualified Tax-Exempt Obligations. In order to qualify the Series 2014A Bonds as "qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Code, the Commission hereby makes the following factual statements and representations: (a) the Series 2014A Bonds are issued after August 7, 1986; (b) the Series 2014A Bonds are not "private activity bonds" as defined in Section 141 of the Code; (c) the Refunded Bonds were designated as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code, the proposed average maturity of the Series 2014A Bonds is not longer than the average maturity of the Refunded Bonds and the Series 2014A Bonds are proposed to mature not later than 30 years after the date the Refunded Bonds were issued and therefore the Series 2014A Bonds issued to refund the outstanding principal amount of the Refunded Bonds are deemed designated as "qualified tax-exempt obligations" for purposes of Section 265(b)(3)of the Code; (d) the aggregate face amount of the issue of the Series 2014A Bonds is not greater than$10,000,000; (e) the Commission hereby designates the Series 2014A Bonds as "qualified tax exempt obligations"for purposes of Section 265(b)(3)of the Code; 27 438081 v3 JSB EL185-25