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, <br /> Section 13. General Covenants. The City covenants and agrees with the Bank that, so <br /> long as the Notes remain outstanding and unpaid: <br /> (a) The City shall promptly give written notice to the Line Issuer of (i) any <br /> alteration in its home rule status, (ii) any payment defaults on any of the City's <br /> indebtedness payable from ad valorem property tax receipts or from any other lawful <br /> source, and (iii) any reduction in the City's long term bond rating by Moody's Investors <br /> Service, Inc. to a rating of less than A2. <br /> (b) Upon the receipt of proper invoices, the City shall reimburse a maximum of <br /> Five Thousand Dollars ($5,000) of the Bank's costs with regard to the issuance of the <br /> Notes. <br /> (c) The Bank shall have the right to terminate its obligation to purchase any <br /> future issuance of Notes upon one hundred eighty(180) days written notice to the City. <br /> (d) The City shall take no action to substantially limit the powers of the City as <br /> a home rule unit to incur debt or levy ad valorem taxes. <br /> (e) The City will adopt, make, execute and deliver any and all such further <br /> ordinances, resolutions, instruments and assurances as may be reasonably necessary or <br /> proper to carry out the intention of, or to facilitate the performance of, this Ordinance and <br /> for the better assuring and confirming unto the Bank the rights and benefits provided in <br /> this Ordinance. <br /> Section 14. Tax Covenants. The City agrees to comply with all provisions of the Code <br /> which, if not complied with by the City, would cause any Tax-exempt portion of the Notes not to <br /> be Tax-exempt. In furtherance of the foregoing provisions, but without limiting their generality, <br /> the City agrees: (a) through its officers, to make such further specific covenants, representations <br /> as shall be truthful, and assurances as may be necessary or advisable; (b) to comply with all <br /> -18- <br />