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<br />77 <br />who do not purchase in the original offering, should consult their own tax advisors with respect <br />to State of California personal income tax and federal income tax consequences of owning such <br />Bonds. <br />In the further opinion of Bond Counsel, interest on the Bonds is exempt from California <br />personal income taxes. <br />Owners of the Bonds should also be aware that the ownership or disposition of, or the <br />accrual or receipt of interest on, the Bonds may have federal or state tax consequences other <br />than as described above. Bond Counsel expresses no opinion regarding any federal or state <br />tax consequences arising with respect to the Bonds other than as expressly described above. <br />CERTAIN LEGAL MATTERS <br />The Bonds are offered when, as and if issued and received by the Underwriter and <br />subject to the approval as to their legality by Jones Hall, A Professional Law Corporation, San <br />Francisco, California, Bond Counsel. Certain legal matters will also be passed upon for the <br />Authority and the City by Jones Hall, A Professional Law Corporation, as Disclosure Counsel. <br />Certain legal matters will be passed upon for the City and the Authority by the City Attorney, and <br />for the Underwriter by Norton Rose Fulbright US LLP, Los Angeles, California. <br />LITIGATION <br />The City is not aware of any pending or threatened litigation concerning the validity of <br />the Bonds or challenging any action taken by the City with respect to the Bonds, the Indenture, <br />the Lease, the Leased Property or any other agreements or actions undertaken in connection <br />with the issuance of the Bonds. Furthermore, the City is not aware of any pending or <br />threatened litigation to restrain, enjoin, question or otherwise affect the Indenture or the Lease <br />or in any way contesting or affecting the validity or enforceability of any of the foregoing or any <br />proceedings of the City taken with respect to any of the foregoing. <br /> <br />There are a number of lawsuits and claims pending and threatened against the City <br />unrelated to the Bonds or actions taken with respect to the Bonds. It is the opinion of the City <br />as of this date that such litigation, claims and threatened litigation will not materially affect the <br />City’s finances or impair its ability to make the Lease Payments under the Lease or the debt <br />service payments on the Bonds. <br />