2007-11 Awarding the Sale of GO Bonds

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�K 7.04. Qualified Tax Exempt Obli ations. in order to qualify the Bonds as "qualified tax-exempt obligations" within- the meaning of Section 265(b)(3) of the Code,. the City makes the -following factual. statements and'representations: (a) the Bonds are not "private activity bonds" as defined in $eetion 141 of the Code;. (b) the City hereby designates the Bonds as "qualified tax-exempt: obligations" for purposes ofSectioti 265(b)(3� of the Code; (c) the reasonably anticipated amount of tax-exempt obligations (other -than ainy.private.activity bonds that are not.qualified 501(c)(3) bonds) which will, be, issued by the. City (and all. spbgxdfi*e entities of the City) during calendar. year 2007 will not exceed $10,00o000; -and (d) not more than $10,000,000 -of obligations issued by the .City during calendar year 2007 have been designated for -purposes of Section 265(b)(3).of the Code.. 7.05.. Procedural Requirements: The City will use its hest effortsto comply with any. federal procedural requirements which may apply in order to effectuate the designati:* made by this section. Section 8. Book Entry 3:ystem: Lin►ited Obligation ofCitY. 8.01. DTC. The Bonds will be initially issued in the form of a separate single typewritten or printed filly registered Bond -for each of the -maturities set forth iri Section 1.03 hereof: Upon initial'issuance, the ownership ofeach Bond will be registered in the registration books kept:by the- Registrar in the name of Cede & Co., as nominee for The Depository Trust Cornpaiiy,-N&w York, New York, and its successors and assigns ("DTC"). Except as provided in this section, all of the, outstanding Bonds will be registered in, the registration lxboks kept by the Registrar.in the.naine of Cede & Co., as. nominee of DTC. 8.02. Partiteants. With respect to Bonds registered in the registration bookslept by. the Registrar in the name of .Cede & Co, as -nominee of DTC, the City, the Registrar and. the Paying: Agent will have no responsibility or*.obligation to any broker dealers, banks and other finanpial institutions. from time -to time for which DTC. holds Bonds. as securities depository .(the "Participants") or to any other person on behalf of which -a Participant. holds an interest in -the Bonds, including but not limited to any responsibility or obligation with respect to (i) :the accuracy of the records of-DTC, Cede &. Co. or any Participant: with respect to .any ownership .interest in the. Bonds, .(ii)* the delivery to. any Paiticipant .or any other person (other than a registered owner of.Bonds, as shown bji the registration books -kept by the Reg istraw,) of any notice with respect to the Bonds, including any notice of redemption, or==.(ii) the paymentto any Participant or any other person, other thm. a registered owner -of Bonds, of any amount with respect to principal*of premium,. if any, or interest oil the.Bonds. The City, the Registrar: and. the 3109760 MN[ GE1904 14