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or operations of the Borrower or the validity of the authorization, execution, delivery or performance by
the Borrower of any Borrower Document.
10. Nothing has come to our attention that would lead us to believe that the statements and
information contained in the Preliminary Official Statement, as of its date and the date of the Bond Purchase
Agreement, and the Official Statement, as of its date and the date hereof, under the headings “PLAN OF
FINANCING,” “THE PROJECT AND THE PRIVATE PARTICIPANTS,” “CERTAIN
BONDHOLDERS’ RISKS” (but only with respect to those risks that expressly relate to the Borrower, the
Project and the private participants), “NO LITIGATION—The Borrower” and “CONTINUING
DISCLOSURE” (except as to the statistical and financial data included in the Preliminary Official
Statement and the Official Statement with respect to which we do not express any opinion), contain any
untrue statement of a material fact or omit to state any material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading.
11. The Borrower may not plead the defense of usury or maintain an action for usury with
respect to the loan(s) being made under the Transaction Documents.
Very truly yours,
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