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amount deemed necessary by NMCT to effect a current refunding of the Series 2003 Bonds and <br /> achieve debt service savings. <br /> 2.04. In order to qualify the Refunding Bonds as "qualified tax- exempt obligations" within <br /> the meaning of Section 265(b)(3) of the Code, the City makes the following factual statements and <br /> representations: <br /> (a) the reasonably anticipated amount of tax- exempt obligations (other than <br /> private activity bonds that are not qualified 501(c)(3) bonds) which will be issued by the <br /> City (and all subordinate entities of the City) during calendar year 2012 will not exceed <br /> $10,000,000; <br /> (b) not more than $10,000,000 of obligations issued by the City during calendar <br /> year 2012 have been designated for purposes of Section 265(b)(3) of the Code. <br /> (c) the City agrees, with all members of NMTC, to allocate the benefits <br /> attributable to the Refunding Bonds (and the project financed by the original Series 2003 <br /> Bonds) in accordance with members' most recent Debt Service Share under Article XI., <br /> Section 3 of the Joint Agreement, which share is 3.37 percent; and accordingly the City <br /> allocates 3.37 percent of the principal amount of the Refunding Bonds to the City for the <br /> purposes of Section 265(b)(3) of the Code. <br /> 2.05. City staff and consultants are authorized and directed to take all other actions <br /> required to carry out the intent of this Resolution. <br /> Approved by the City Council of the City of Centerville this ' day of <br /> 9 ,&Y <br /> 2012. <br /> � <br /> Attest: Tom Wilharber, Mayor <br /> — <br /> Teresa Bender, City Clerk <br /> 407957v1 SJBNR375 -1 2 <br />