2005-90 PROVIDING FOR THE ISSUANCE OF A GENERAL OBLIGATION NOTE

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(d) to file such forms, statements, and supporting documents as may be required and in a timely manner; and (e) if deemed necessary or advisable by their officers, to employ and pay fiscal agents, financial advisors, attorneys, and other persons to assist the City in such compliance. Section 1 S. Registered Form. The City recognizes that Section 149(a) of the Code requires the Note to be issued and to remain in fully registered form in order to be and remain i T�-exempt. In this connection, the City agrees that it will not take any action to permit the Note to be issued in, or converted into,bearer or coupon form. Section 16. Reimbursement. None of the proceeds of the Note will be used to pay, directly or indirectly, in whole or in part, for an expenditure that has been paid by the City prior to the date hereof(i) except architectural or engineering costs incurred prior to commencement of any of the Project, (u) expenditures paid within 60 days of this Ordinance or (ui) expenditures for which an intent to reimburse it as properly declared under Treasury Regulations Section 1.103-18. This Ordinance is in itself a declaration of of�cial intent under Treasury Regulations Section 1.103-18 as to all costs of the Project paid after the date hereof and prior to issuance of the Note. Section 17. Qualified Tax-Exempt Obligations. The City recognizes the provisions of Section 265(b)(3) of the Code which provide that a "qualified t�-exempt obligation" as therein defined may be treated by certain financial institutions as if it were acquired on August 7, 1986, for certain purposes. The City hereby designates the Note as a "qualified tar-exempt obligation" for the purposes and within the meaning of Section265(b)(3) of the Code. Section I8. Pertaining to the Note Registrar. If requested by the Note Registrar, the Designated Officials and City Clerk are authorized to execute the Note Registrar's standard form of agreement between the City and the Note Registrar with respect to the obligations and duties -xxviir