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

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JUL-25-02 THU 16� 10 IEPA WATER FAX N0, 2177851225 P, 10 amount shall be 100% on each computation date, no[ reduced to 90% as might be permitted under regul3tions. The Recipient shall pay the amount of reba�te due with respcct to cach such account no later than S4 days after eacl�instaIlmtnt computation datc. The Recipient may be a Qualified Small issucr. �it is a C�uali�ied Small Issuer, then it will not bc rcquircd to compute or pay rebate,but the Recipient will ma.iatain records to establish that it is a Qualified Small Issuer, and make such records available to the Agency on request. Appendix A, Section 9. Records, Thc Rxipicnt sha11 retaia rccords relating to each computation performed and a11 other inve.etment tecords of amotmts identified iA Appe,Adix A, Sections 1 and 2. Such records shall include: (a)purchase price; (b)purchase date; (c)type af investment; ' (c�)accrur.ci interest paid; (e}intcrest rate; (�principai amount; (g}maturiry date; (h}inter�st payment date; (i)date of liquidarion; and(j)receipt upon iiquiclation. If any invcstment becomes allocablc to onc of thc funds or accow�ts dcscribcd iit Scction 8 of tuc Tax Cov�uan�i �n a ciatr other than the date such invcstmcnt is purchascd,thc rccords rcquircd to be kepl sha,1I incIude the fair markct valuc of such investmcnt on the date it becomes so allocata�. If any investme.at is retained after tha date tho last Loaa or Existing Loan is retircd, the records requited to be kept shall include the fair market value of such investment on the date the last Loan or Existi.ng Loan is retired. Amounts or investments wi11 be segregated whenever necassary to maintain these rCcortis. Upan r�quest�f the Agency,such records will be providtd to the Agency. Appendix A, Section 10. Sale of the Project. The Rxipient shail not sell or othetwise disposc of portion of thc Project without prior written approval of the A.gency or as specifically allowed as dcscribed bclow: (a)Other than as provided in the next sentence,neither the Project nor any portion thereof has been, Is expected to be, or wfll be sold or otherwise dispased of,in whole or in part,prior tn tbe earlier of(i)the last date of the reasonably expected economic lifc to thc Rccipicnt of the property(deternuned on the first date of funding of the Loan) or(ii)the Iast maturity date of the Loan, The Recipiettt m�y dispose of personal properry in the ordinary coursc of an established �vemmenl pro�-un prior to the cariier of(i)the last date of thc reasonably expected economic life to thc Rccipient of the property(determined on the first data of funding of ttze Losn) or(ii) thc last maturity of the Loan,provided: (A)the weighted average maturity of the Loau financing the personai property is not greater than 120 percent of the reasonably cxpected use of that properiy for governmental purposes; (B)the Recipient reasonably expects on the first date of funding of the Loan that tlie fair mar�et value of that prnperty on the date of disposition will be not greater than 25 percent o�iEs cost; (C)thc property is no longcr suitablc for its govemmental purpvses on the date of disposition; and (D)the Recipient deposits amounts roccived hom the disposition in a commingled fund with substantial tax or othtr govvrnmcntal rcvenues and tho Racipient reasonably expocts to spend the Funounts oa govcrztmental programs within six months from the date of the commingiing. A� Q CHAD!NAN AVn��ITt.F.R,APRtt„2OOI �VERNM,OI�