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<br />(ii) Deliver to the Bondholder or the Bank, as the case may be, a copy of
<br />a completed and executed Form 8038-G to be filed by the City with the Internal
<br />Revenue Service; and
<br />
<br />(iii) Cause to be delivered to the Bondholder or the Bank, as the case may
<br />be, an opinion of Bond Counsel, who may be counsel to the Bondholder or the
<br />Bank, regarding, as the case may be, the due authorization, execution, delivery,
<br />validity and enforceability of the Bond or the Bond Anticipation Note, as the case
<br />may be, and the pledge of the Pledged Revenues therefor and the due adoption of
<br />this Ordinance (enforceability of such instrwnents may be subject to standard
<br />bankruptcy exceptions and the like) and the exclusion of interest on the Bond or the
<br />Bond Anticipation Note, as the case may be, from gross income for federal income
<br />tax purposes, that the Bond or the Bond Anticipation Note, as the case may be, is
<br />not a specified "private activity bond" within the meaning of Section 57(a)(5) of the
<br />Code and, therefore, the interest on the Bond or the Bond Anticipation Note, as the
<br />case may be, will not be treated as a preference item for purposes of computing the
<br />alternative minimum tax imposed by Section 55 of the Code (however, a portion of
<br />the interest on the Bond or the Bond Anticipation Note owned by corporations may
<br />be subject to the federal alternative minimum tax which is based in part on adjusted
<br />current earnings). Such opinion shall also state that the Bond or the Bond
<br />Anticipation Note, as the case may be, is a "qualified tax-exempt obligation" within
<br />the meaning of Section 265(b)(3) of the Code; and
<br />
<br />(iv) Deliver to the Bondholder or the Bank an opinion of the City
<br />Attorney, satisfactory to the Bondholder and the Bank and their respective counsel,
<br />regarding, as the case may be, the due authorization, execution, delivery, validity
<br />and enforceability of the Bond or the Bond Anticipation Note, as the case may be,
<br />and the first perfected pledge of the Pledged Revenues therefor (subject only to the
<br />prior and senior pledge of the Electric Utilities Tax for the payment of the City's
<br />outstanding Revenue Bonds, Series 1998, Series 1999 and Series 1999B), and the
<br />due adoption of this Ordinance (enforceability may be subject to standard
<br />bankruptcy exceptions and the like); and
<br />
<br />(v) Deliver to the Bondholder or the Bank a general certificate of the
<br />City in form satisfactory to the Bondholder and its counsel certifying, among other
<br />things, that the City is in compliance with the terms of the Ordinance.
<br />
<br />(b) The City may request from time to time, and the Bank shall be obligated to advance,
<br />$5,000,000 in maximum principal amount under the Bond Anticipation Note. No advance
<br />requested by the City under the Bond Anticipation Note shall be for a principal amount less than
<br />$200,000. The City may request from time to time, and the Bondholder shall be obligated to
<br />advance, $23,300,000 in maximum principal amount under the Bond. No advance requested by the
<br />City under the Bond Anticipation Note shall be for a principal amount less than $200,000.
<br />
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