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

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JUL-25-02 THU 16�09 IEPA WRTER FAX �0, 2177851225 P, 08 � If the Agency determincs that the investment of any such fiznd or account must be modificd, thc Agcncy may instruct thc RCcipient to resrrict the investment or application of any such fund or account The Recipient agrees to foIlow such instructions in addition to the instructions givcn herein. Howcver, it is the respousibility of the Recipient to follow the covcnants provided herein in a timely manner, 'Ihe Rccipicnt will eontaet the Agcncy to request futther instructions or elarification if it is unsure as to actions it must take or the restricdons it must apply. The Recipicnt does not maintain a compensating balanee, liqnidiry account, negakve pledge of property hcld for investment purposcs rcquired to ba maintaiocc� al Ieast at a particular level, or similar arrang�ment with respect to, in any way, any TF.pA Loan. Appendix A, Seclion 4. Market Price Investment Restrictions. The RccipittZt wiIl not invest any of the amounts described in any Restrietod Fund in aa� invcstm�nt that has specifically ue�otiated withdrawal or reinvestment provisions and a specifically negotieted iatcrest rate, or any agreemont to supply iavestments on two or more future datcs (including any gua�teed investment contrac;t, forwarci sugply contract, repurchase agreement, or any similar agreement) unless it awards such investmcat wntrdct pursuaat to competidve biddi.ng in a maru�e�r approvcd by the Ageney aad its counsel. The Rxipicnt may invest such amonnts ia certificates of deposit of banks or savings aad ' loan associations that have a fixcd intorest rate, fixed paym�nt schcdulcs and substandal '� pcnalties for early withdrawal only if the yield on the certificate of deposit (A) is not less thaa the yield on reasonably comparable direct obligations of the Unitod Statcs of Amcrica and(B)is not Iess than the highest yield that is published or posted by the pravider to be currently available from the provider on reasonably comparable ceztificates of d�posit offered to the public. An in�vestrnent of the amounts dcscribcd in any Restricted Fund in aay Commingled Fund � shall only be madc if thc invcstincnts made for such Commingled Fund satisfy tbie provisions of this scction, An investment in a Commingled Fund in which the Recipient and all members of the same Concrolled Gmoup as the Raipient own, in the aggregate, noc more than ten percent of the beneficial interests sha11 be made only to the cxtcnt that such investment is made without an intent to reduce the amount to be rebated to the United States Government or to create a smaller � profit or a lazger loss than would have resulted if the transaction had been at arm's length and had the rebate or yield restriction reqvircmonts not been relevant to the Recipicnt. ,9ppendix A, Sectipn S. YiP-ld RP:ct.r��p�, The Rcstricted Funds must be invested at a yield not highcr than ccrtain limits to be pmvided by the Agcncy. These limzts may change from time to timc to limits that will be provided by the Agency to the Recipicnt. Not withstanding such rec}uirement,the following may be invested without yield restriction: (a) amounts on deposit in the Repayment Fund that have not been on daposit for more than !3 months, so long as ihe Repayment��nd continues to qualify as a bona fide debt service fund as described in Appendix A,Section 2 above; (b) amouats invested in Non-AMT Tax-Bxempt Investments; A-2 �'C�,rMnr,wriD G�c,a�t,Antu.,200 t (VERNM.01)