No. 1118 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985, 1986, 1988 for the purpose of raising money for redevelopment in the SBCAA

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regulations applicable thereto as in effect on the date of delivery of the Series 1992 Bonds. The Commission shall comply with the arbitrage rebate requirements under Section 148 of the Code to the extent applicable; and (d) All officers, members, employees and agents of the Commission, the Department and the City are authorized and directed to provide certifications of facts and estimates that are material to the reasonable expectations of the Commission as of the date the Series 1992 Bonds are issued and to enter into covenants on behalf of the Commission, the Department and the City are authorized to certify and /or enter into covenants for the Redevelopment District regarding the facts and circumstances and reasonable expectations of the Commission on the date the Series 1988 Bonds are issued and the commitments made by the Commission herein regarding the amount and use of the proceeds of the Series 1992 Bonds. SECTION 15. Notwithstanding any other provisions of this Series 1992 Bond Resolution, the covenants and authorizations contained in this Series 1992 Bond Resolution ( "Tax Sections ") which are designed to preserve the exclusion of interest on the Series 1992 Bonds from gross income under federal law ( "Tax Exemption ") need not be complied with if the Redevelopment District receives an opinion of bond counsel that any Tax Section is unnecessary to preserve the Tax Exemption. SECTION 16. If, when the Series 1992 Bonds or a portion thereof shall have become due and payable in accordance with their terms or shall have been duly called for redemption or irrevocable instructions to call the Series 1992 Bonds or a portion thereof for redemption shall have been given, and the whole amount of the principal of and premium, if any, and interest so due and payable upon all of the Series 1992 Bonds or a portion thereof then outstanding shall be paid or (i) sufficient moneys, or (ii) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America, the principal of and the interest on which when due will provide sufficient moneys for such purpose, or (iii) time certificates of deposit fully secured as to both principal and interest by obligations of the kind described in (ii) above of a bank or banks the principal of and interest on which when due will provide sufficient moneys for such purpose, shall be held in trust for such purpose, and provision shall also have been made for paying all fees and expenses in connection with the redemption, then and in that case the Series 1992 Bonds or such portion thereof 30