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<br />. <br /> <br />. <br /> <br />. <br /> <br />if irrevocable provision shall have been made for permitted prior redemption of such principal <br />amount, at such earlier redemption date). <br /> <br />19. With respect to the Equipment, the City has complied and will continue to comply <br />with the "Reimbursement Regulations" provided in United States Treasury Regulations Section <br />1.150-2. In particular, except where the following may not be required by said Regulations (e.g., <br />with respect to certain "preliminary expenditures"), to the extent that any of the proceeds ofthe <br />Certificate will be used to reimburse the City for a cost of the Equipment theretofore paid and <br />temporarily financed by the City out of other City funds, prior to the initial payment thereof (or <br />within applicable time limits thereafter) the City has made or will have made a duly qualifying <br />statement of its official intent to bond for such costs; otherwise, the proceeds of the Certificate <br />are to be used for initial payment, and not for such reimbursement, of costs of the Equipment. <br /> <br />20. The Council hereby finds that the Certificate is exempt from continuing <br />disclosure requirements of Rule 15c2-12 of the Securities and Exchange Commission because <br />the Certificate is issued in the aggregate principal amount ofless than $1,000,000. <br />Consequently, the City is not covenanting to provide and will not provide annual financial <br />information, notices of certain material events or any other disclosure or information which <br />would otherwise be required by that Rule. <br /> <br />21. If any section, paragraph or provision of this resolution shall be held to be invalid <br />or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or <br />provision shall not affect any of the remaining provisions of this resolution. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />Dietz and, after a full discussion thereof and upon a vote being taken thereon, the following <br />voted in favor thereof: Klinzing, Dietz, Gumphrey, Motin, Farber <br /> <br />and the following voted against the same: <br /> <br />Whereupon the resolution was declared duly passed and adopted. <br /> <br />1768935vl <br /> <br />10 <br /> <br />D'5r55 <br />