Bank Qualified Tax-Exempt Obligation. The Bonds are not “qualified tax-exempt obligations” under Code § 265(b)(3).
Bank Qualified Tax-Exempt Obligation. The Certificates are not “qualified tax-exempt obligations” under Code § 265(b)(3).
Bank Qualified Tax-Exempt Obligation. The City designates the Lease as a “qualified tax- exempt obligations” under Code § 265(b)(3), and with respect to this designation certifies as follows:
(1) the City reasonably anticipates that the amount of tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) that will be issued by or on behalf of the City (and all subordinate entities of the City) during the calendar year that the Lease is executed and the Certificates are delivered, including the Lease, will not exceed $10,000,000; and
(2) the City (including all subordinate entities of the City) will not issue tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) during the calendar year that the Lease is executed and the Certificates are delivered, including the Lease, in an aggregate principal amount or aggregate issue price in excess of $10,000,000, without first consulting with Special Tax Counsel that the designation of the Lease as a “qualified tax-exempt obligations” will not be adversely affected.
Bank Qualified Tax-Exempt Obligation. The Issuer has not designated the Lease Agreement as a “qualified tax-exempt obligation” under Code § 265(b)(3).
Bank Qualified Tax-Exempt Obligation. The City designates the Bonds as “qualified tax- exempt obligations” under Code § 265(b)(3), and with respect to this designation certifies as follows:
(1) the City reasonably anticipates that the amount of tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) that will be issued by or on behalf of the City (and all subordinate entities of the City) during the calendar year that the Bonds are issued, including the Bonds, will not exceed $10,000,000; and
(2) the City (including all subordinate entities of the City) will not issue tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) during the calendar year that the Bonds are issued, including the Bonds, in an aggregate principal amount or aggregate issue price in excess of $10,000,000, without first obtaining advice of Bond Counsel that the designation of the Bonds as “qualified tax-exempt obligations” will not be adversely affected.
Bank Qualified Tax-Exempt Obligation. The City designates the Certificates as “qualified tax-exempt obligations” under Code § 265(b)(3), and with respect to this designation certifies as follows:
(1) the City reasonably anticipates that the amount of tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) that will be issued by or on behalf of the City (and all subordinate entities of the City) during the calendar year that the Certificates are issued, including the Certificates, will not exceed $10,000,000; and
(2) the City (including all subordinate entities of the City) will not issue tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) during the calendar year that the Certificates are issued, including the Certificates, in an aggregate principal amount or aggregate issue price in excess of $10,000,000, without first obtaining an Opinion of Special Tax Counsel that the designation of the Certificates as “qualified tax-exempt obligations” will not be adversely affected.
Bank Qualified Tax-Exempt Obligation. The City designates the Note as a “qualified tax-exempt obligation” under Section 265(b)(3) of the Code, and with respect to said designation certifies as follows:
(1) The reasonably anticipated amount of tax-exempt obligations (other than governmental bonds and private activity bonds which are not “qualified 501(c)(3) bonds”) which will be issued by or on behalf of the City (and all subordinate entities of the City) with respect to the Corporation during the calendar year that the Note is issued is not reasonably expected to exceed $30,000,000; and
(2) The City (including all subordinate entities of the City) will not issue an aggregate principal amount of tax-exempt obligations (other than governmental bonds and private activity bonds which are not “qualified 501(c)(3) bonds”) with respect to the Corporation during the calendar year that the Note is issued (including the Note) in excess of $30,000,000, without first obtaining an Opinion of Bond Counsel that the designation of the Note as a “qualified tax- exempt obligation” will not be adversely affected.
Bank Qualified Tax-Exempt Obligation. The Issuer has designated the Lease as a “qualified tax-exempt obligation” under Code § 265(b)(3), and with respect to this designation certifies as follows:
(1) The Issuer reasonably anticipate that the amount of tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) that will be issued by or on behalf of the Issuer (and all subordinate entities of the Issuer) during the calendar year that the Lease is executed and delivered, including the Lease, will not exceed $10,000,000; and
(2) The Issuer (including all subordinate entities of the Issuer) will not issue tax-exempt obligations (other than private activity bonds that are not qualified 501(c)(3) bonds) during the calendar year that the Lease is executed and delivered, including the Lease, in an aggregate principal amount or aggregate issue price in excess of $10,000,000, without first obtaining an Opinion of Special Tax Counsel that the designation of the Lease as a “qualified tax-exempt obligation” will not be adversely affected.
Bank Qualified Tax-Exempt Obligation. The Lease is not a “qualified tax- exempt obligation” under Code § 265(b)(3).
