This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
Section 6.9 Additional Post Issuance Compliance Matters.
(a) Post-Issuance Compliance and Record Keeping. It is the intent of the Issuer
that any post-issuance compliance responsibilities required by the Code be delegated to the
Borrower to the extent permissible.
(b) Remedial Actions. In the event an action takes place (or is anticipated to
take place) that will cause the Project not to be used for qualified uses under Section 142 of the
Code, the Borrower will consult with Bond Counsel as soon as practicable about taking remedial
action as described in Treas. Reg. Section 1.142-2. As advised by Bond Counsel, the Borrower
will take all actions necessary to ensure that the "nonqualified bonds" (as defined in Treasury
Regulations Section 1.141-2) are properly remediated in accordance with the requirements of the
Treasury Regulations. The Borrower and the Issuer are familiar with the Internal Revenue
Service's Voluntary Compliance Agreement Program pursuant to which issuers of tax-exempt debt
may voluntarily resolve violations of the Code and applicable Treasury Regulations on behalf of
their bondholders or themselves through closing agreements with the Internal Revenue Service.
Section 6.10 Authority to Execute Tax Certificate. The person executing this document
on behalf of the Issuer is an authorized representative of the Issuer and is acting for and on behalf
of the Issuer in executing this Tax Certificate. To the best of the knowledge and belief of such
person, there are no other facts, estimates or circumstances that would materially change the
expectations as set forth herein, and said expectations are reasonable.
The person executing this document on behalf of the Borrower is an authorized
representative of the Borrower and is acting for and on behalf of the Borrower in executing this
Tax Certificate. To the best of the knowledge and belief of such person, there are no other facts,
estimates or circumstances that would materially change the expectations as set forth herein, and
said expectations are reasonable
Section 6.11 Amendment. Notwithstanding any provision of this Tax Certificate, the
Issuer and the Borrower may amend this Tax Certificate and thereby alter any actions allowed or
required by this Tax Certificate if such amendment is based on a written opinion of Bond Counsel.
Section 6.12 Counterparts. This Tax Certificate may be executed in several
counterparts, each of which, taken together, shall be an original and all of which shall constitute
one and the same instrument.
[Signature Page Follows]
18Jump to an indexed page (744 of 744)