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(4) Proceeds of the 2015A Prior Issue that remain on deposit in the
2015A Construction Fund in the amount of $20,056,916 will be used to pay costs
of the 2015A Prior Issue Project and will not be invested in Higher Yielding
Investments with respect to the Issue from the date hereof until spent.
3.20 Investment Proceeds. Any Investment Proceeds will be used to pay Debt
Service or for other governmental purposes of the Issuer within one year after the receipt of those
Investment Proceeds, such period being the Temporary Period applicable to those Investment
Proceeds.
3.30 Bond Fund. The Bond Fund is a Bona Fide Debt Service Fund.
Amounts deposited from time to time in the Bond Fund will be used to pay Debt Service within
13 months after the amounts are so deposited, such period being the Temporary Period for such
amounts.
3.40 No Other Replacement Fund or Assured Available Funds. The Issuer
has not established and does not expect to establish or use any sinking fund, debt service fund,
redemption fund, reserve or replacement fund, or similar fund, or any other fund to pay Debt
Service other than the Bond Fund. Except for money referred to in 3.30 and Proceeds of a
Refunding Issue, if any, no other money or Investment Property is or will be pledged as
collateral or used for the payment of Debt Service (or for the reimbursement of any others who
may provide money to pay that Debt Service), or is or will be restricted, dedicated, encumbered
or set aside in any way as to afford the holders of the Issue reasonable assurance of the
availability of such money or Investment Property to pay Debt Service.
3.50 Hedge Contracts. The Issuer has not entered into, and does not
reasonably expect to enter into, any Hedge with respect to the Issue, or any portion thereof. The
Issuer acknowledges that entering into a Hedge with respect to the Issue, or any portion thereof,
may change the Yield and that bond counsel should be contacted prior to entering into any
Hedge with respect to the Issue in order to determine whether payments/receipts pursuant to the
Hedge are to be taken into account in computing the Yield on the Issue.
3.60 No Overissuance. The Proceeds are not reasonably expected to exceed
the amount needed for the governmental purposes of the Issue as set forth in 2.20.
3.70 Other Uses of Proceeds Negated.
(A) Except as stated otherwise in this Certificate, none of the Proceeds will be
used:
(1) to pay principal of or interest on, refund, renew, roll over, retire, or
replace any other obligations issued by or on behalf of the Issuer or any other
Governmental Unit,
(2) to replace any Proceeds of another issue that were not expended on
the project for which such other issue was issued,
B-1
Attachment B
to Tax Compliance Certificate
UNDERWRITER’S CERTIFICATE