Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />the aggregate face amount of all tax-exempt bonds (other than <br />private activity bonds) issued by the City (and all entities <br />subordinate to, or treated as one issuer with, the City) during the <br />1993 calendar year is not reasonably expected to exceed $5,000,000, <br />all within the meaning of Section 148(f) (4) (D) of the Code. <br /> <br />For purposes of substantiating the determination that the <br />Bonds, being refunding bonds, are eligible for exception from <br />rebate pursuant to the above, in particular because they meet the <br />applicable requirements set out in section 148(f) (4) (D) (v) and (vi) <br />of the Code, the City hereby represents and determines that (1) the <br />Prior Bonds were issued in 1985 by the City, which was at the time <br />and is now a governmental unit with general taxing powers, (2) none <br />of the Prior Bonds were industrial development bonds or private <br />loan bonds under the Internal Revenue Code of 1954, (3) the <br />aggregate face amount of all tax-exempt bonds (other than bonds <br />described in Section 148(f) (4) (D) (vi) (II) of the Code) issued in <br />calendar year 1985 by the City, or by all entities subordinate to <br />or treated as one issuer with the City, did not exceed $5,000,000, <br />(4) the average maturity date of the Bonds is not later than the <br />average maturity date of the Refunded Bonds (both taken as a whole <br />and when comparing the 1985A Refunding Bonds with the 1985A <br />Refunded Bonds and the 1985B Refunding Bonds with the 1985B <br />Refunded Bonds), and (5) none of the Bonds has a maturity date <br />which is later than 30 years after the earlier date the Prior Bonds <br />were issued. <br /> <br />26. Desianation of Qualified Tax-Exempt Obliaations. In <br />order to qualify the Bonds as "qualified tax-exempt obligations" <br />within the meaning of Section 265(b) (3) of the Code, the City <br />hereby makes the following factual statements and representations: <br /> <br />(a) the Bonds are issued after August 7, 1986; <br /> <br />(b) the Bonds are not "private activity bonds" as <br />defined in Section 141 of the Code; <br /> <br />(c) the City hereby designates the Bonds as "qualified <br />tax-exempt obligations" for purposes of Section 265(b) (3) of <br />the Code; <br /> <br />(d) the reasonably anticipated amount of tax-exempt <br />obligations (other than private activity bonds, treating <br />qualified 501(c) (3) bonds as not being private activity bonds) <br />which will be issued by the City (and all entities subordinate <br />to, or treated as one issuer with, the City) during calendar <br />year 1993 is not reasonably anticipated to exceed $10,000,000; <br />and <br /> <br />235883 <br /> <br />20 <br />