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8 <br />Bank Qualification (“BQ”) <br />•Section 265(b)(3) of the Code <br />–Preferential tax treatment by banks <br />•Issuer (not Borrower) must designate as bank- <br />qualified <br />–Availability limited to $10 million each calendar year <br />–Applies to the Issuer’s own bonds for governmental <br />purposes and 501(c)(3) bonds only