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5 <br />amountspledged or to be pledged to pay the principal of and interest on the Bonds, or in any way <br />contesting or affecting the validity of the Bonds or the other AgencyDocuments or the <br />consummation of the transactions contemplated thereby or hereby, or contestingthe exclusion of the <br />interest on the Bonds from taxation or contesting the powers of the Agencyor its authority to issue <br />the Bonds; (iii)which may result in any material adverse change relating to the Agency; <br />(iv)contesting the completeness or accuracyof the Preliminary Official Statement or the Official <br />Statementor any supplement or amendment thereto or asserting that the Preliminary Official <br />Statement or the Official Statementcontained any untrue statement of a material fact or omitted to <br />state any material fact required to be stated therein or necessary to make the statements therein, in <br />the light of the circumstances under which they were made, not misleading; and (v)there is no basis <br />for any action, suit, proceeding, inquiry or investigation of the nature described in clauses(i) through <br />(iv) of this paragraph. <br />(g)Preliminary Official Statement. For purposes of the Rule, the Agencyhas <br />heretofore deemed final the Preliminary Official Statement prior to its use and distribution by the <br />Underwriter, except for the information specifically permitted to be omitted by paragraph(b)(l) of <br />the Rule. <br />(h)End of Underwriting Period. Until the date which is twenty-five (25) days <br />after the “end of the underwriting period” (as hereinafter defined), if any event shall occur of which <br />the Agencyis aware, as a result of which it may be necessary to supplement the Official Statement in <br />order to make the statements in the Official Statement, in light of the circumstances existing at such <br />time, not misleading, the Agencyshall forthwith notify the Underwriterof any such event of which it <br />has knowledge and shall cooperate fully in furnishing any information available to it for any <br />supplement to the Official Statement necessary, in the Underwriter’s opinion, so that the statements <br />therein as so supplemented will not be misleading in light of the circumstances existing at such time, <br />and the Agencyshall promptly furnish to the Underwritera reasonable number of copies of such <br />supplement. As used herein, the term “end of the underwriting period” means the later of such time <br />as: (i)the Agencydelivers the Bonds to the Underwriter; or (ii)the Underwriterdoesnot retain, <br />directly or as a member of an underwriting syndicate, an unsold balance of the Bonds for sale to the <br />public. Notwithstanding the foregoing, unless the Underwritergives notice to the contrary, the “end <br />of the underwriting period” shall be the Closing Date. Any notice delivered pursuant to this <br />provision shall be written notice delivered to the Agencyat or prior to the Closing Date and shall <br />specify a date (other than the Closing Date) to be deemed the “end of the underwriting period.” <br />(i)Tax Exemption. The Agencywill refrain from taking any action with regard <br />to which the Agencymay exercise control that results in the inclusion in gross income for federal or <br />State of California income tax purposes of the interest on the Bonds. <br />(j)Prior Continuing Disclosure Undertaking. Except as disclosedin the Official <br />Statement, the Agencyhas not failed to comply withany prior continuing disclosure undertaking in <br />any material respects during the first five years. <br />(k)Oversight Board Approval. The Oversight Board has duly adopted the <br />Oversight Board Resolution approving the issuance of the Bonds and no further Oversight Board <br />approval or consent is required for the issuing of the Bonds or the consummation of the transactions <br />relating to the issuance of the Bonds described in the Preliminary Official Statement.