R2002-154 AUTHORIZING THE EXECUTION OF A TAX EXEMPTION CERTIFICATION AND AGREEMENT

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JUL-25-02 THU 16�08 IEPA WATER FRX N0, 2177851225 P, 05 Section 9. Compliance with Rebate. Thc Recipient covenants to take such actions and maka, or causc to be mad�, al! calculatians, lransfers and paymencs that may bc neeessary to comply with the pro�visions of fcderal tax law applicable to the funcis and accounts held by the Recipient associatcd with ils IEPA Loans. Appendix A provides furthr,r details regarc3ing this covenant. Thc Recipient will pay to the Trustee az�y amounts determined to be the amount of a re�atc payment with respect to such amouuts, and providc documeatation as described in Appcndix A. Section 10. Xecords. The Rccipient agrecs t� keep and retain or cause to be kept and retained adequate records with respcct to thc investment of alI amounts in alI Restrieted Funds and provide such rccords to thc Agcncy on reasoctable requesi, Sectinn 11. Inve.rtment Restriclivns. Any money in a Restrieted Fund must be invested in inves�ents purchascd at th� market pric� th�for at all titnes to the greatest extent practicablc, and no amounts may be held as cash or be in�vestcd ia zero yield investments othCc than obligations of the Unitod State of Amcrica purchascd clircctly gam the United Sta.te of America. Tn the event moneys cannot be investcd, other than as pro�vided in this scntence due to thc dcnomination, pricr or availability of invesunents, the amounts shall be invested in an interest bearing deposit of a b•aak with a yieId nat less than that paid to thc gencrai pubIic or held uninvcsted to the minimum cxtcnl necessary. Except as provided ixi Appendix A, aIl moneys in any Restrict�d Fund shall be irtvested at a Yield not in excesa of a Yicld to be provided hy khe Agcncy. Appcndix A contains furtl�er details rclated to investment restrictions. Section 12. Use Test. (a)No more ttian flve ptrccnt vf the Loan proceeds and the facilities financed thereby will be used by any entity, other than a stste nr local g�overnmcnt urui� including as a result of (i) ownership, (ii) actual or beneficial use pursuant to a leasv or a management, service, incentive payment, research or output contract or (iii) any othcr similar arrangement, agreemetit or undcrstanding, whether written or oral, except for use of the Projc;ct on the same basis as the gcncral public. Such prohibited use includes any forma} or infornial arran$rment with any cntity, other than a state or locaI governtnenta! tmit, tl'ta,t Conv�ys special legal entitlements to any porqon of the Project that is available for use by the general public or that con�veys to at�y entity, other than a state or local governm�ntal unit, any speeial oeonomic bencfit with respect to any portion of the Froject that is not available for use by the genaal public. Such ptohibited use might uise pursuant to a management contract, an output contmct, or a contract to accept efflucnt from ari cntity, (bj Nonc of the Loan proceeds will be used, directly or indirectly, to make or finance Ioans to n:ny entity. Section 13. No Sale of the Projecr. L�xcept as provided in Appcndix A, none of the faciliCies fuianced with the Loan is expected to be sold or othcrwisc disposed of prior to the earlicr of(i)tho last date of the economic life of lhe property(determinai on the datc ot'issuance of the Loan)or(ii)the last maturity date of the Loan. -3 - m cw+rn��rr�►xn C,vr�.Ete,a�Rn.,zoo t (VERNhr.01)