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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8' <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />SECTION 4. Qualified Tax -Exempt Obligations. The Sublease/Option Agreement is <br />hereby designated as "qualified tax exempt obligations" within the meaning of Section <br />265(b)(3) of the Internal Revenue Code of 1986, as amended (the "Code"). The City, <br />together with all subordinate entities of the City, do not reasonably expect to issue during the <br />calendar year in which the Sublease/Option Agreement is issued more than $10,000,000 of <br />obligations which it could designate as "qualified tax-exempt obligations" under Section <br />265(b) of the Code. <br />SECTION 5. Effect. This Resolution shall take effect immediately upon its passage. <br />PASSED, APPROVED AND ADOPTED this 6th day of June, 2006. <br />ATTEST: <br />CAROLINA P. BARRERA, CMC <br />City Clerk <br />ON! F, VIA " <br />