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<br />-33- <br />Section 5.10. Dissolution Act Invalid; Maintenance of Tax Revenues. In the event that the <br />applicable property tax revenues provisions of the Dissolution Act are determined by a court in a <br />final judicial decision to be invalid and, in place of the invalid provisions, provisions of the Law or <br />the equivalent become applicable to the Bonds, the Successor Agency shall comply with all <br />requirements of the Law or the equivalent to insure the allocation and payment to it of the Tax <br />Revenues, including without limitation the timely filing of any necessary statements of <br />indebtedness with appropriate officials of the County and, in the case of amounts payable by the <br />State, appropriate officials of the State. <br /> <br />Section 5.11. No Arbitrage. The Successor Agency shall not take, or permit or suffer to <br />be taken by the Trustee or otherwise, any action with respect to the proceeds of the 2018 Bonds <br />which, if such action had been reasonably expected to have been taken, or had been deliberately <br />and intentionally taken, on the date of issuance of the 2018 Bonds would have caused the 2018 <br />Bonds to be “arbitrage bonds” within the meaning of section 148 of the Code. <br /> <br />Section 5.12. Private Activity Bond Limitation. The Successor Agency shall assure that <br />the proceeds of the 2018 Bonds are not so used as to cause the 2018 Bonds to satisfy the private <br />business tests of section 141(b) of the Code or the private loan financing test of section 141(c) of <br />the Code. <br /> <br />Section 5.13. Federal Guarantee Prohibition. The Successor Agency shall not take any <br />action or permit or suffer any action to be taken if the result of the same would be to cause any of <br />the 2018 Bonds to be “federally guaranteed” within the meaning of section 149(b) of the Code. <br /> <br />Section 5.14. Rebate Requirement. The Successor Agency shall take any and all actions <br />necessary to assure compliance with section 148(f) of the Code, relating to the rebate of excess <br />investment earnings, if any, to the federal government, to the extent that such section is applicable <br />to the 2018 Bonds. <br /> <br />Section 5.15. Maintenance of Tax-Exemption. The Successor Agency shall take all actions <br />necessary to assure the exclusion of interest on the 2018 Bonds from the gross income of the <br />Owners of the 2018 Bonds to the same extent as such interest is permitted to be excluded from <br />gross income under the Code as in effect on the date of issuance of the 2018 Bonds. <br /> <br />Section 5.16. Continuing Disclosure. The Successor Agency hereby covenants and <br />agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure <br />Certificate. Notwithstanding any other provision of this Indenture, failure of the Successor Agency <br />to comply with the Continuing Disclosure Certificate shall not be an Event of Default hereunder. <br />However, any Participating Underwriter or any holder or beneficial owner of the 2018 Bonds may <br />take such actions as may be necessary and appropriate, including seeking specific performance <br />by court order, to cause the Successor Agency to comply with its obligations under this Section <br />5.16. <br /> <br />Section 5.17. Further Assurances. The Successor Agency will adopt, make, execute and <br />deliver any and all such further resolutions, instruments and assurances as may be reasonably <br />necessary or proper to carry out the intention or to facilitate the performance of this Indenture, <br />and for the better assuring and confirming unto the Owners of the Bonds the rights and benefits <br />provided in this Indenture. <br /> <br />459