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<br />6. AUTHORITY AND AUTHORIZATION. Lessee represents, covenants and warrants and, as <br />requested by Lessor, will deliver an opinion of counsel to the ,effect that: <br /> <br />(i) Lessee is a fully constituted political subdivision or agency of the <br />State of the Equipment Location; <br /> <br />(ii) the execution, delivery and performance by the Lessee of this Lease have <br />been duly authorized by all necessary action on the part of the Lessee; and <br /> <br />(iii) this lease constitutes a legal, valid and binding obligation of the <br />Lessee enforceable in accordance with its terms. <br /> <br />Lessee agrees that: <br /> <br />(i) it has complied with all bidding requirements where <br />notification presented this Lease for approval and <br />obligation on its part; <br /> <br />necessary and by due <br />adoption as a valid <br /> <br />(ii) it has sufficient appropriations or other funds available to pay all <br />amounts due hereunder for the current fiscal period; <br /> <br />(iii) it is an entity described in Section l03(c)(1) of the Internal Revenue <br />Code of 1986, as amended. <br /> <br />(iv) the obligation represented by <br />which is issued to "advance refundlf <br />Section l49(d)(S) of the Code <br />l49(d)(2),(3), or (4) of the Code; <br /> <br />this <br />any <br />or <br /> <br />Lease does not constitute a Bond (1) <br />other bond as that term is defined in <br />(2) a bond described in Section <br /> <br />(v) the obligation of the Lessee represented by this Lease is not "Federally <br />Guaranteed" as that term is defined in Section l49(b)(2) of the Code; <br /> <br />(vi) Lessee will do or cause to be done all things necessary to preserve its <br />existence as an entity described in Section l03(c) of the Code; <br /> <br />(vii) the <br />"Arbitrage <br /> <br />obligation represented by this Lease does not constitute <br />Bond" as that term is defined in Section l48(a) of the Code; <br /> <br />an <br /> <br />(viii) Lessee <br />Bond Issues", <br />Code. <br /> <br />shall execute an "Information Return for Tax Exempt Governmental <br />form 8038-G or 8038-GC as prescribed in Section l49(e) of the <br /> <br />7. TITLE. Upon acceptance of the Equipment by Lessee hereunder, title <br />Equipment will vest in Lessee; however, (i) in the event of termination <br />Lease by Lessee pursuant to Section 4 hereof; (ii) upon the occurrence of <br />of Default hereunder and as long as such Event of Default is continuing; <br />in the event that the Purchase Option has not been exercised prior <br />Expiration Date, title will immediately vest in Lessor or its assignee. <br /> <br />to the <br />of this <br />an Event <br />or (iii) <br />to the <br />