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<br />C. The remaining portion, after the distributions specified in Sections 3.04.A and <br />B, shall be divided and distributed in proportion to the shares contributed to the acquisition <br />of the Public Entity's interest in or for the betterment of the Real Property and, if applicable, <br />the Facilities by public and private entities, including the State Entity but not including any <br />private entity that has been paid in full, that supplied funds in either real monies or like <br />kind contributions for such acquisition and betterment, and the State Entity's distribution' <br />shall be made to the Commissioner of Finance. Such public and private entities may agree <br />amongst themselves as to any redistribution of such distributed funds. <br /> <br />The Public Entity shall not be required to payor reimburse the State Entity for any funds <br />above and beyond the full net proceeds of such sale, even if such net proceeds are less than the <br />amount of the Grant actually disbursed. <br /> <br />Article IV <br />COMPLIANCE WITH G.O. COMPLIANCE LEGISLATION <br />AND THE COMMISSIONER'S ORDER <br /> <br />Section 4.01 State Bond Financed Property. The Public Entity and the State Entity <br />acknowledge and agree that the Public Entity's interest in the Real Property and, if applicable, the <br />Facility is "state bond financed property", as such term is used in the G.O. Compliance <br />Legislation and the Commissioner's Order, and, therefore, the provisions contained in such <br />statute and order apply to the Public Entity's interest in the Real Property and, if applicable, the <br />Facility and any Use Contracts relating thereto. <br /> <br />Section 4.02 Preservation of Tax Exempt Status. In order to preserve the tax-exempt <br />status of the G.O. Bonds, the Public Entity agrees that during the time period that any G.O. <br />Bonds are outstanding and unpaid: <br /> <br />A. It will not use the Real Property and, if applicable, the Facility, or use or invest <br />the Grant or any other sums treated as "bond proceeds" under Section 148 of the Code <br />including "investment proceeds," "invested sinking funds," and "replacement proceeds," in <br />such a manner as to cause the G.O. Bonds to be classified as "arbitrage bonds" under <br />Section 148 of the Code. <br /> <br />B. It will deposit into and hold all of the Grant that it receives under this <br />Agreement in a segregated non-interest bearing account until such funds are used for <br />payments for the Project in accordance with the provisions contained herein. <br /> <br />C. It will, upon written request, provide the Commissioner of Finance all <br />information required to satisfy the informational requirements set forth in the Code <br />including, but not limited to, Sections 103 and 148 thereof. <br /> <br />D. It will, upon direction from the Commissioner of Finance, take such actions and <br />furnish such documents as the Commissioner of Finance determines to be necessary to <br />ensure that the interest to be paid on the G.O. Bonds is exempt from federal taxation, which <br />such action may include either; (i) compliance with proceedings intended to classify the <br />G.O. Bonds as a "qualified bond" within the meaning of Section 141(e) of the Code, (ii) <br />changing the nature or terms of the Use Contract so that it complies with Revenue <br /> <br />City of Centerville City Park <br />9/11/2006 <br /> <br />14 <br /> <br />J1/ <br />