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5313747v2 <br /> <br /> 17 <br />29. Tax-Exempt Status of the Bonds; Rebate. The City is subject to the rebate <br />requirement imposed by Section 148(f) of the Co de because the Refunded Bonds did not qualify <br />for the small issuer exemption from rebate, as provided in Section 148(f)(4)(D) of the Code and <br />Section 1.148-8 of the Regulations. <br />30. Designation of Qualified Tax-Exempt Oblig ations. In order to qualify the Bonds <br />as "qualified tax-exempt obliga tions" within the meaning of Sec tion 265(b)(3) of the Code, the <br />City hereby makes the following factua l statements and representations: <br />(a) the Bonds are issued after August 7, 1986; <br />(b) the Bonds are not "private activity bonds" as defined in Section 141 of the Code; <br />(c) the City hereby designates the Bonds as "qualified tax-exempt obligations" for <br />purposes of Section 265 (b)(3) of the Code; <br />(d) the reasonably anticipated am ount of tax-exempt obligati ons (other than private <br />activity bonds, treating qualified 501(c)(3) bonds as not being private activity bonds) which will <br />be issued by the City (and all entities treated as one issuer with the City, and all subordinate <br />entities whose obligations are treated as issued by the City) during this calendar year 2013 will <br />not exceed $10,000,000; <br />(e) not more than $10,000,000 of obligations issu ed by the City during this calendar <br />year 2013 have been designated for purposes of Section 265(b)(3) of the Code; and <br />(f) the aggregate face amount of the Bonds does not exceed $10,000,000. <br />The City shall use its best efforts to comply w ith any federal procedural requirements which may <br />apply in order to effectuate the de signation made by this paragraph. <br />31. Severability. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining provisions of this resolution. <br />32. Headings. Headings in this resolution are included for convenience of reference <br />only and are not a part hereof, and shall not limit or define the meaning of any provision hereof.