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6..03. otiier_ce.rlific tcs., 'rho mayor-. City.Adnlinish•ator.C.lerk,,and City'T--caAirerare hereby <tutilct!-ir,,ed arl'd directed to f ll-Ilisll to the Purchaser at fife closing such cerfifleates as .tire regtiircd as a CUillfEllUEI 4?f sale, t;nie s }iti.gatio I shall have .been com.mcnced and be pending Cjtiostioning the. Bonds -or the organization of tile City or incumbenev of its officers., at the .closing the Mayvr, City Administrator Clerk, and. City Treasurer sha.11 also execute and deliver to the Purchaser a suitable certificate as to absence cif' material liEigation. and the City. Treasurer shall also exect.ite and deliver a certificate as'To puynient 1*or*and delivery of the Bonds. 6.04, Pavrtrent of Costs�ofiwlssuan�c: C bsts*of issuance of thg Bonds will be paid icy the I?ser(% Agent purspant to the Memorandum of Instruction. Section Tax C'cwcnapLS. ?.Ol . ax-i; tempt Boiid1. The.City covenants -and agrees with :the holdcr:s from tinge to time of .tile Bonds that it will nottake or permit to.:)e taken by any of its officers, employees or agents any action which would cause the inteNst. on the. Bonds to become sabject to taxatioif under the Internal Revenue Code of 1.986, as amended (the"Cocie"), and the Teasury Regulations promulgated thereunder, in.eltect at the tirrre of Buell actions, and that it will take ar cause its officers, .employees or agents to take, all affirmative. action within its power that maybe necessary to ensure that .such inEerest will not beceinlc subiect. to taxation under the Code and applicable Treasury Regulatians, as. presently existing or :as hereafter. amended and made applicable to file Bonds. 7.02. No Ite • to Required. (a) The City will Comply- Willi requirements necessary. • tinc]er the C'ixle to establish and maintain the exclusion frnlrt gross iticoiile of the interest can the Bonds under Section 103 of the Corte, including without limitation requirements relating to temporary periods forinvestments, limitations on amounts invested at a. yield greater than the vield on thco Bonds, and the rebate of excess investment eamings to the t.lilited States, if the Bonds (together with other obligations reasonably expected to be issued in calendar year 2015) exceed the small -issuer exception arnotint ell' $5,000.000. (b) Fut.ourposes of qualifying. ibr the small issuer exception to the fecferai arbitrage rebate re�juirements: the City hereby finds, determines and dot aces that the aggregateface Amotint of all tax-exempt bonds. (other than. private activity bonds) .issued by the City (and all sclbord.ina(e entities of the City) during the calendar year .in which the .Bonds are issued and. outstanding .at eerie time is not reasonably expected to exceed S5,000,000,all within the nicaiiing, of Section 1=is(0(q)(p) of the Code. J. urtherinore. (i) each of the Bonds was issued as pail of an issue. which was treated as Illecting Elie rebate requirements .by reason of tile. exception for governillerital tinits issuing $5,00 .000 or less of bonds: { i.) the; average maturity. of the Bonds dues riot exceed the rema 111 g average .mat-mity of the Refunded Bonds: and {ifi) no maturity of the .86nds has a maturity elate which is later than .the. date which is 30. years after the date tile: Refunded Bonds. were issued. 4612i.Svi C11.P'Gtt90-1i 9