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<br />e <br /> <br />e <br /> <br />payment of more than 10% of the debt service on the Bonds, in <br />contravention of section 141(b)(2) of the Code; <br /> <br />(ii) To take any action to assure that in the event that <br />the "private business use" described in subsection (i) hereof <br />exceeds 5% of the proceeds of the Bonds (less amounts deposited <br />into a reserve fund, if any), then the amount in excess of 5% is <br />used for a "private business use" which is "related" and not <br />"disproportionate," within the meaning of section 141(b)(3) of <br />the Code, to the governmental use; . <br /> <br />(iii) To take any action to assure that no amount which is <br />greater than the lesser of $5,000,000 or 5% of the proceeds of <br />the Bonds (less amounts deposited into a reserve fund, if any) <br />is directly or indirectly used to finance loans to persons, other <br />than state or local governmental units, in contravention of <br />section 141(c) of the Code; <br /> <br />(iv) To refrain from taking any action which would <br />otherwise result in the Bonds being 'treated as "private activity <br />bonds" within the meaning of section 141(b) of the Code; <br /> <br />(v) To refrain from taking any action that would result in <br />the Bonds being "federally guaranteed" within the meaning of <br />section 149(b) of the Code; <br /> <br />(vi) To refrain from using any portion of the proceeds of <br />the Bonds, directly or indirectly, to acquire or to replace funds <br />which were used, directly or indirectly, to acquire investment <br />property (as defined in section 148(b)(2) of the Code) which <br />would produce a materially higher yield over the term of the <br />Bonds, other than investment property acquired with -- <br /> <br />(A) proceeds of the Bonds invested for a reasonable <br />temporary period of three years or less, or in the case of <br />a refunding a period of 30 days or less, until such <br />proceeds are needed for the purpose for which the Bonds <br />are issued, <br /> <br />(B) amounts invested in a bona fide debt service <br />fund, within the meaning of section 1.103-13(b)(12) of the <br />Treasury Regulations, and <br /> <br />(C) amounts deposited in any reasonably required <br />reserve or replacement fund to the extent such amounts do <br />not exceed 10% of the proceeds of the Bonds; <br /> <br />(vii) To otherwise restrict the use of the proceeds of the <br />Bonds or amounts treated as proceeds of the Bonds, as may be <br />necessary, so that the Bonds do not otherwise contravene the <br />requirements of section 148 of the Code (relating to arbitrage) <br />and, to the extent applicable, section 149(d) of the Code <br /> <br />18 <br />