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0.03. Other Certificates. The Mayor, City Administrator -Cleat, and City Treasurer -are hereby authorized and directed to furnish to. the Purchaser at the closing such certificates as am required as a condition of sale. Unless 1itigatioie shall have been commenced and be pending questioning the Bonds or the organization..of the City or incumbency.of its officers, at the -closing the Mayor, City Administrator - Clerk, and City Treasurer shalt. also. execute and. deliver to the Purchaser a suitable: certificate -as to absence of matetial litigation, and the City Treasurer shall also execute and deliver a certifcate-as to. payment for and delivery of the Bonds. 6.04. l'avment of Costs of Issuance. Costs.oiissuance of the Bonds will be paid by the Escrow Agent pursuant to the Memorandum of instruction. Section 7. Tax Covenants. 741. TaxrEumpJ136nds. The .City covenants and agrees with the hdldgrs from time to time of the Bonds that it will not take or permit to be. taken by ony-of its- offlcers, employees or. agents any action which would cause the interest on the Bonds to become subject to taxation. under the rnternal Revenue Code of 1986, as amended (the "Code"), and the Treasury Regulations: promulgattd thereunder, in effect at the time of such actions,. and that it will take or cause. its queers, employees or agents to take, all affirmative action within its power that may be necessary to ensure that such interest will not become. subject to taxation under the Code and applicable Treasury Regulations, as presently existing or as hereafter amended -and made applicable to the. Bonds. 7:0I No Rebate Required. - (a) The City will comply. with requirements necessary under the Code. to establish and maintain the exclusion from gtoss income of the interest.on the Bonds under Section 103 of the. Cade, including without limitation requirements relating #A temporary periods fob investments,. limitations on amounts .invested at a yield greater. than the, yield on the Bonds, and. -the rebate of excess investment eamings to the United States, .if the Bonds (together with: other obligations reasonably.expected to be -issued in calendar year 2015) exceed the small -issuer exception amdunt of $$,0.00;000. (b) For purposes of qualifying for the: small issuer exception -to the fedeial -arbitrage rebate requirements, the City hereby finds,.determines and .declares thatthe aggregate face amount of. all tax-exempt bonds (other than. private activity bonds). issued by the City (and all subordinate: entities of the City) during the calendar year in which the Bonds are issued. and outstanding at otie time is. not reasonably expected to exceed $5,00.0000, all within the meaning of Section 148(fl(4)(D) of the..Code. Furthermore: (i). each of the Bonds was issued as part of an issue which was treated as :meeting. the rebate requirements by reason of the -exception for governmental units issuing $5,000,400 or less of bonds; Qi) the average maturity of the Bonds does not exceed the .remaining average maturity of the. Refunded Bonds; and (iii) no maturity of the Bonds has a maturity date. which is later than the date which is 3.0 years after the date the Refunded Bonds. were issued: 46125SAVAMIP90-12 9