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<br />K. The Authority will timely file or cause to be filed with the Secretary of the <br />Treasury of the United States the information required by Section 149( e) of the Code with <br />respect to the Bonds on such form and in such place as the Secretary may prescribe. <br /> <br />L. The Authority will not issue or use the Bonds as part of an "abusive arbitrage <br />device" (as defined in Section 1.148-10(a) of the Regulations). Without limiting the foregoing, <br />the Bonds are not and will not be a part of a transaction or series of transactions that attempts to <br />circumvent the provisions of Section 148 of the Code and the Regulations, by (i) enabling the <br />Authority to exploit the difference between tax-exempt and taxable interest rates to gain a <br />material financial advantage, or (ii) increasing the burden on the market for tax-exempt <br />obligations. <br /> <br />M. Proper officers of the Authority charged with the responsibility for issuing the <br />Bonds are hereby directed to make, execute and deliver certifications as to facts, estimates or <br />circumstances in existence as of the Issue Date and stating whether there are facts, estimates or <br />circumstances that would materially change the Authority's expectations. On or after the Issue <br />Date, the Authority will take such actions as are necessary and appropriate to assure the <br />continuous accuracy of the representations contained in such certificates. <br /> <br />N. The covenants and representations made or required by this Section are for the <br />benefit of the Bond holders and any subsequent Bond holder, and may be relied upon by the <br />Bond holder and any subsequent Bond holder and bond counsel to the Authority. <br /> <br />O. When used in this Section, the following terms have the following <br />meanmgs: <br /> <br />"Code" means the Internal Revenue Code of 1986, as amended by all legislation, <br />if any, enacted on or before the Issue Date. <br /> <br />"Computation Date" has the meaning stated m section 1.148-1 (b) of the <br /> <br />Regulations. <br /> <br />"Gross Proceeds" has the meaning stated in section 1.148-1 (b) of the Regulations. <br /> <br />"Investment" has the meaning stated in section 1.148-1 (b) of the <br /> <br />Regulations. <br /> <br />"Issue Date" for each series or sub-series of the Bonds or other obligations <br />of the Authority is the respective date on which such series or sub-series of the Bonds or other <br />obligations of the Authority is delivered against payment therefor. <br /> <br />"Net Sale Proceeds" has the meaning stated in section 1.148-1(b) of the <br /> <br />Regulations. <br /> <br />"N onpurpose Investment" has the meaning stated m section 1.148-1 (b) of the <br /> <br />Regulations. <br /> <br />"Proceeds" has the meaning stated in section 1.148-1 (b) of the Regulations. <br /> <br />26 <br /> <br />HOU:3003369.1 <br />