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 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 Tax-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 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 Tax- Exempt 2022 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 Tax2015-Exempt 2022 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 Tax- Tax-Exempt 2022 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 Tax-Exempt 2022 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 Tax- Tax-Exempt 2022 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 Tax-Exempt 2022 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 Tax- 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 Tax-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 Tax- Exempt 2022 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 Tax2014-Exempt 2022 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.