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<br />Code; <br /> <br />(b) The City hereby designates the Note as a qualified tax-exempt obligation for <br />purposes of Section 265(b)(3) of the Code; <br /> <br />(c) The reasonably anticipated amount oftax-exempt obligations (other than obligations <br />described in clause (ii) of Section 265(b)(3)(C) of the Code) which will be issued by the City (and <br />all entities whose obligations will be aggregated with those of the City) during the calendar year <br />1999 will not exceed $10,000,000; and <br /> <br />Cd) Not more than $10,000,000 of obligations issued by the City during the calendar <br />year 1999 have been designated for purposes of Section 265(b)(3) of the Code. <br /> <br />1096247.1 <br /> <br />7 <br />