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� � � <br /> . � <br /> , � <br />, . . <br /> � <br /> be from time to time outstanding for purposes of Section 265(b)(3) of the Code as a <br /> "qualified tax-exempt obligation" as provided therein. In support of such designation, the <br /> City certifies, represents and covenants as follows: <br /> A. None of the Bonds is a "private activity bond" as defined in <br /> Section 141(a) of the Code. <br /> B. Including the Bonds (herein designated), the City (including any entities <br /> subordinate thereto) has not and does not reasonably expect to issue in excess of <br /> $10,000,000 in Tax-exempt obligations during calendar year 1995. <br /> C. Including the Bonds (herein designated), not more than $10,000,000 of <br /> obligations issued by the City (including any entities subordinate thereto) during the <br /> calendar year 1995 have been to date or will be designated by the City for purposes of <br /> said Section 265(b)(3). <br /> Section 19. Rights and Duties of Bond Registrar and Paying Agent. If requested by <br /> the Bond Registrar or the Paying Agent, or both, any of�cer of the City is authorized to <br /> execute standard forms of agreements between the City and the Bond Registrar or Paying <br /> Agent with respect to the obligations and duties of the Bond Registrar or Paying Agent <br /> hereunder. In addition to the terms of such agreements and subject to modification thereby, <br /> the Bond Registrar and Paying Agent by acceptance of duties hereunder agree: <br /> (a) to act as bond registrar, paying agent, authenticating agent, and transfer <br /> agent as provided herein; <br /> (b) as to the Bond Registrar, to maintain a list of Bondholders as set forth <br /> herein and to furnish such list to the City upon request, but otherwise to keep such list <br /> confidential to the extent permitted by law; <br /> -32- <br />