Laserfiche WebLink
and it will not make any investment or do any other act or thing during the period that the <br /> Bonds are outstanding which would cause any of the Bonds to be "arbitrage bonds" <br /> within the meaning of Section 148 of the Code, all as in effect on the date of delivery of <br /> the particular Series of Bonds. <br /> (ii) These covenants are based solely on current law in effect and in existence <br /> on the date of delivery of each Series of Bonds. <br /> (iii) It shall not be an Event of Default under this Indenture if the interest on <br /> any of the Bonds is not excludable from gross income for federal tax purposes or <br /> otherwise pursuant to any provision of the Code which is not currently in effect and in <br /> existence on the date of the issuance of such Series of Bonds. <br /> (iv) It will rebate any necessary amounts to the United States of America to the <br /> extent required by the Code, as provided in Section 4.9 of this Indenture. <br /> (b) Notwithstanding any other provision of this Indenture to the contrary, the <br /> foregoing covenants and authorizations (the "Tax Sections"), which are designed to preserve the <br /> continuing exclusion of the interest on a Series of Bonds from the gross income of the owners <br /> thereof for federal tax purposes under Section 103 of the Code, need not be complied with if the <br /> Issuer receives an Opinion of Bond Counsel that any Tax Section is unnecessary to preserve the <br /> continuing exclusion of the interest on such Series of Bonds from the gross income of the owners <br /> thereof for federal tax purposes under Section 103 of the Code. In making any determination <br /> regarding the covenants, the Issuer may rely on an Opinion of Bond Counsel which shall be <br /> addressed to the Issuer and the Trustee. <br /> (c) Notwithstanding any other provision of the Indenture to the contrary, the Issuer <br /> may elect to issue a Series of Bonds, the interest on which is not excludable from gross income <br /> for federal tax purposes, so long as such election does not adversely affect the exclusion from <br /> gross income of interest for federal tax purposes on any other Series of Bonds, by making such <br /> election on the date of delivery of such Series of Bonds. In such case, the Tax Sections in this <br /> Indenture shall not apply to such Series of Bonds. <br /> (End of Article VI) <br /> 30 <br />