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from the books and records under their custody and control or as otherwise known <br /> • to them, and all such certified copies, certificates and affidavits, including any <br /> heretofore furnished, shall be deemed representations of the City as to the facts <br /> recited therein. <br /> 6.03. Tax Covenant. The City covenants and agrees with the holders <br /> from time to time of the Bonds that they will not take or permit to be taken by any <br /> of their officers, employees or agents any action which would cause the interest on <br /> the Bonds to become subject to taxation under the Internal Revenue Code of 1986, as <br /> amended (the Code), and the Treasury Regulations promulgated thereunder (the <br /> Regulations), and covenants to take any and all actions within their powers to <br /> ensure that the interest on the Bonds will not become subject to taxation under the <br /> Code and the Regulations. The City will cause to be filed with the Secretary of <br /> Treasury an information reporting statement in the form and at the time prescribed <br /> by the Code. The City represents and covenants that the City is and will be the <br /> owner of all facilities financed by the 1987 Bonds and will use such facilities to <br /> conduct its municipal liquor business. so long as any Bonds are outstanding, the <br /> City will not enter into any lease, or any operating, use, management or other <br /> agreement respecting said faiclities which would cause the Bonds to be considered <br /> "private activity Bonds" or "private loan bonds" pursuant to Section 141 of the <br /> Code. <br /> 6.04. Arbitrage Certification. The Mayor and City Manager, being the <br /> • officers of the City charged with the responsibility for issuing the Bonds pursuant to <br /> this resolution, are authorized and directed to execute and deliver to the purchaser <br /> thereof a certificate in accordance with the provisions of Section 148 of the Code, and <br /> the applicable Regulations, stating the facts, estimates and circumstances in existence <br /> on the date of issue and delivery of the Bonds which make it reasonable to expect <br /> that the proceeds of the Bonds will not be used in a manner that would cause the <br /> Bonds to be arbitrage bonds within the meaning of the Code and Regulations. <br /> 6.05. Exemption from Rebate Requirement. For purposes of complying <br /> with the requirements of Section 148(f)(4)(C) of the Code relating to the exemption <br /> of certain small governmental units from the rebate requirements of the Code, the <br /> City represents that: <br /> (i) the City is a governmental unit with general taxing powers; <br /> (ii) the 1987 Bonds and the Bonds are not "private activity bonds" as <br /> defined in Section 141 of the Code (Private Activity Bonds); <br /> (iii) ninety-five percent of the net proceeds of the 1987 Bonds were <br /> used for the local governmental purposes of the City; <br /> -13- <br />