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<br />(a) to take any action to assure that no more than 10 percent of the proceeds of the <br />Certificates of Obligation or the projects financed therewith (less amounts deposited to a reserve <br />fund, if any) or the projects financed therewith are used for any "private business use," as defined <br />in Section 141 (b)(6) of the Code or, ifmore than 10 percent of the proceeds or the projects financed <br />therewith are so used, such amounts, whether or not received by the Issuer, with respect to such <br />private business use, do not, under the terms of this Ordinance, or any underlying arrangement, <br />directly or indirectly, secure or provide for the payment of more than 10 percent of the debt service <br />on the Certificates of Obligation, in contravention of Section 141(b)(2) of the Code; <br /> <br />(b) to take any action to assure that in the event that the "private business use" described in <br />subsection (a) hereof exceeds 5 percent of the proceeds of the Certificates of Obligation or the <br />projects financed therewith (less amounts deposited into a reserve fund, if any) then the amount in <br />excess of5 percent is used for a "private business use" which is "related" and not "disproportionate," <br />within the meaning of Section 141(b)(3) of the Code, to the governmental use; <br /> <br />(c) to take any action to assure that no amount which is greater than the lesser of$5,000,000, <br />or 5 percent of the proceeds of the Certificates of Obligation (less amounts deposited into a reserve <br />fund, if any) is directly or indirectly used to finance loans to persons, other than state or local <br />governmental units, in contravention of Section 141(c) of the Code; <br /> <br />(d) to refrain from taking any action which would otherwise result in the Certificates of <br />Obligation being treated as "private activity Certificates of Obligation" within the meaning of <br />Section 141(b) of the Code; <br /> <br />(e) to refrain from taking any action that would result in the Certificates of Obligation being <br />"federally guaranteed" within the meaning of Section 149(b) of the Code; <br /> <br />(f) to refrain from using any portion of the proceeds of the Certificates of Obligation, directly <br />or indirectly, to acquire or to replace funds which were used, directly or indirectly, to acquire <br />investment property (as defined in Section 148(b)(2) of the Code) which produces a materially <br />higher yield over the term of the Certificates of Obligation, other than investment property acquired <br />with -- <br /> <br />(1) proceeds of the Certificates of Obligation invested for a reasonable temporary <br />period 00 years or less or, in the case ofa refunding Certificate of Obligation, for a period <br />of 30 days or less until such proceeds are needed for the purpose for which the Certificates <br />of Obligation are issued, <br /> <br />(2) amounts invested in a bona fide debt service fund, within the meaning of Section <br />1.148-1 (b) of the Treasury Regulations, and <br /> <br />26 <br />