Common use of Not to Cause Interest to Become Taxable Clause in Contracts

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- A Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- A Tax- Exempt 2022 Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015Tax-A Exempt 2022 Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City District covenants that it shall not use, and shall not permit the use of, or and shall not omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would could cause the interest on any Authority Bond to fail to be excluded pursuant to section 103(a) of the 2015- A Bonds to become includable in Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City Fiscal Agent receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax such exclusion of the interest on any 2015-A BondAuthority Bond from the gross income of the owner thereof for federal income tax purposes, the Authority or the City, as the case may be, City shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2015-A Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2024- A Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152024-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2020- A Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152020-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- A Tax-Exempt 2020 Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015Tax-A Exempt 2020 Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2014-A Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152014-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2016-A Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152016-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- A Tax-Exempt 2022 Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015Tax-A Exempt 2022 Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2009-A Bonds to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152009-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this Section.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- A Tax-Exempt 2016 Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 2015Tax-A Exempt 2016 Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.

Not to Cause Interest to Become Taxable. The Authority and the City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner that if made or omitted, respectively, would cause the interest on any of the 2015- 2024-A Bonds to become includable in fail to be excluded pursuant to section 103(a) of the Code from the gross income, as defined in section 61 of the Code, income of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the Authority or the City receives a written opinion of Bond Counsel to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any 20152024-A Bond, the Authority or the City, as the case may be, shall comply with each of the specific covenants in this SectionSection 6.04.