Bank Qualification. The Issuer designates the Lease Agreement as a “qualified tax-exempt obligation” under Code § 265(b)(3), and with respect to this designation certifies as follows:
Bank Qualification. The District hereby designates this Lease Agreement for purposes of paragraph (3) of section 265(b) of the Tax Code and represents that not more than $10,000,000 aggregate principal amount of obligations the interest on which is excludable (under section 103(a) of the Tax Code) from gross income for federal income tax purposes (excluding (i) private activity bonds, as defined in section 141 of the Tax Code, except qualified 501(c)(3) bonds as defined in section 145 of the Tax Code and (ii) current refunding obligations to the extent the amount of the refunding obligation does not exceed the outstanding amount of the refunded obligation), this Lease Agreement, has been or will be issued by the District, including all subordinate entities of the Office, during the calendar year 2018.
Bank Qualification. The Lease is not designated as a “qualified tax-exempt obligation” under Code § 265(b)(3).
Bank Qualification. The Issuer has not designated the Lease Agreement as a “qualified tax- exempt obligation” under Code § 265(b)(3).**]
Bank Qualification. If this Lease has been designated a “qualified tax-exempt obligation” on Attachment 4 “Bank Qualified Designation”, YOU and all YOUR subordinate entities will not issue in excess of $10,000,000 of “qualified tax-exempt obligations” (including this Lease, but excluding private activity bonds other than qualified 501(c)(3) bonds) during the calendar year in which WE fund this Lease without first obtaining an opinion of nationally recognized counsel in the area of tax-exempt municipal obligations acceptable to US that the designation of this Lease as a “qualified tax- exempt obligation” will not be adversely affected.
Bank Qualification. The Town, including any entities acting on behalf of or subordinate to the Town, does not anticipate issuing more than $10,000,000 of tax-exempt obligations during the calendar year 2017, which is the calendar year in which the Site Lease and the Financing Lease are to be executed. No proceeds from the Lender under the Site Lease will be used in a manner which would cause the either of the Site Lease or the Financing Lease to be a private activity bond (other than a “qualified 501(c)(3) bond”). Accordingly, the Town hereby designates each of the Site Lease and the Financing Lease as a “qualified tax-exempt obligation” pursuant to Section 265(b)(3)(b)(i) of the Internal Revenue Code of 1986, as amended.
Bank Qualification. The City reasonably expects that the total amount of “tax exempt obligations” within the meaning of Section 265 of the Code to be issued by it during the calendar year 2022, including its obligations under this Lease, will not exceed $10,000,000. Accordingly, the City has designated this Lease as a “qualified tax-exempt obligation” for purposes of Section 265(b) of the Code.
