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

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JUL-25-02 THU is�o9 IEPA wATER FaX No, 2177851225 P, 07 AppENotx A Appendix A, Section 1. Funds and Accounts. Listcd in Appendia► C arc all of thc l�cstrictcd Funds. Also includcd is a brief hut acct�raie description of each. The list escludes rcnvwal and deprcciation fiinds, operating funds attd surplus fuads that are not expected to bc used to pay prineipal of or interest on any of tho IEPA Loans, and as'e not restrictcd or oar u�arkCcl W essuTe availability to pay such principal or interest in the event that othcr moncys should prove insufficient Tt�e list iucludes auy dCbl scrvice resrrve i�tnds, debt scrvice payment ftmds, and any other sinking fund or pledged fund for thc Rccipient's TEPA Loans (other than any Repaynoent Pund acting as a bona fide debt srrvice Cund). Where a pottion of a ftuid oc aeeount maintainai by the Recipient is so related to an IEpA Iroan, that situa.tion�s noted. The�tecipient undcrstands that ia such cascs,it must accouut for the allocablC portion of the f�nd or account. Thc Rccipient ackuowlc�xldcs that aay such i�nd or accouut or portion of such fund or account (whether or not noted in A endix C is sub'cc , PP ) 1 t to rcbatc and investment rr„ytriction� exc ept for any portions meeting exc tions described h ' � erem. ', Appendix A, Section 2. Purpose of Repayrnent Fund. Principal of and interest on the Recipirnt's IEPA Loans wilt bc paid solcly fivm the Repayment Fund described in Secdon 8 of th�Rccipicnt's Tax Covenants. 'fhe Repayment�nd will be used primarily to achieve a proper matclung of reveaucs and carnings with principal and interest payments on 1he Loan azid all Existing Loans each year. It is expected that the Rcpayment Fu»d wiIl be depleted at least once a ycar, cxcept for a reasonabte carry over amount�u►t t� excccd the greater of(a) th�eatnings on the investment of moneys in the Repayment Fuad for. thc immediately preceding bond year or(b) 1/12th of the princlpal and intezest payments on th� Loan and Existi.ng l.aans for the immediately preceding bond year. Appendi�A, Section 3. 0[her Replacentent Proceeds Funds. The Recipient recognizcs that invcstmcnts in aay sinking fund, pledged fund,resetve fiuiid,or similat fund that is maintained as ' security for any IEPA I,oan, is maintained as a source of payment for any of the Recipient's IEPA Loans, is expccted to be used, dircctly or indirxtly, lv pay principal of or interest on any , of thc Recipient's IEPA Y,oans, or is accounted for as rciatcd to any of fhe Recipient's IEPA Loans may riffcct thc tax status of bonds issucd to financc thc Loan. The Recipient has idenufied in Appendix C a list of all such funds and aecounts that it curtently maintains or expects to i maintain. Upon reasonable request by the Agcncy, ttae Recipient agrc�s to provide the Ageney with an accounting of such funds or accounts (including any such fund or account not noted in Appendix C). Such accounting (for each such account) will include a description of all investments and uninvcsted cash contained in sueh aecount at both the beginning and end of cach ycar, a list of receipts and disbursements to or &om such account(ineluding thc date au�d amouat of cach such seceipt and disbursemeni), and a list of all purchase, interest or prineipal payment and liquiddrion transaetions in such aecoluit (including the date, price and invcstmettt descnption). The Agency may utilize such information to confirm a„y am�u.nts that may have to be paid to the United Siate of Aznerica vvith respect to such funds or accounts. The Recipient agrccs w pdy to thc T'rustcc any such amount, if any. A-1