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VIII. MISCELLANEOUS <br /> 8.1. Reimbursement. No portion of the Bonds will be allocated to reimburse an <br /> original expenditure paid before the date hereof,except(a)architectural,engineering,surveying,soil <br /> testing, bond issuance expenses and similar costs not exceeding in the aggregate 20% of the issue <br /> price of the Bonds, (b)reimbursement allocations for original expenditures for which the Borrower <br /> has adopted an official intent satisfying Treas.Reg. § 1.150-2 and(c)original expenditures made not <br /> more than 60 days before such official intent was adopted. Accordingly, any reimbursement <br /> allocations will be treated as expenditures on the date of the allocation under Treas.Reg. § 1.150-2. <br /> 8.2. No Hedge Bonds. It is reasonably expected that 85% of the spendable <br /> proceeds (within the meaning of Section 149(g) of the Code) for each issue of Bonds will be <br /> used to carry out the governmental purpose of the issue within the 3 year period beginning on <br /> the date hereof, and that not more than 50% of the proceeds of the Bonds will be invested in <br /> nonpurpose investments having a substantially guaranteed yield for 4 years or more. Therefore <br /> the Bonds will not be hedge bonds. <br /> [Remainder of Page Intentionally Blank] <br /> -13- <br />