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supplemented or amended pursuant to such subparagraph) at <br /> all times subsequent thereto up to and including the date <br /> of the Closing, the portions of the Official Statement so <br /> supplemented or amended (including any financial and <br /> statistical data contained therein) will not contain any <br /> untrue statement of a material fact or omit to state a <br /> material fact required to be stated therein or necessary to <br /> make such information therein, in the light of the <br /> circumstances under which it was presented, not misleading. <br /> <br /> (k) The City will take no action and will cause no <br /> action to be taken that would cause the interest with <br /> respect to the Certificates to be subject to federal income <br /> taxation. <br /> <br /> (1) The City has not been, is not presently and as a <br /> result of the sale and delivery of the Certificates will <br /> not be in violation of any debt limitation, appropriation <br /> limitation or any other provision of the California <br /> Constitution. <br /> <br /> (m) Between the date hereof and the Closing, without <br /> the prior written consent of the Underwriter, the City will <br /> not have issued any bonds, notes or other obligations for <br /> borrowed money on behalf of the City except for such <br /> borrowings as may be described in or contemplated of the <br /> Official Statement. <br /> <br /> (n) The City has not been notified of any listing or <br /> proposed listing by the Internal Revenue Service to the <br /> effect that the City is a bond issuer whose no-arbitrage <br /> certificates may not be relied upon. <br /> <br /> (o) Any certificate signed by any officer of the City <br /> and delivered to the Underwriter shall be deemed a <br /> representation and warranty of the City to the Underwriter <br /> as to the statements made therein but not of the person <br /> signing such certificate. <br /> <br /> 4. The Lessor represents, warrants and covenants to the <br />Underwriter that: <br /> <br /> (a) The Lessor is, and will be at the date of <br /> Closing, a non-profit public benefit corporation duly <br /> organized, validly existing and in good standing under the <br /> laws of the State of California and has all necessary power <br /> and authority to enter into and perform its duties under <br /> the Legal Documents and the Assignment Agreement and, when <br /> executed and delivered by the respective parties thereto, <br /> the Legal Documents and the Assignment Agreement will <br /> <br /> 6 <br />1739030/2 <br /> <br /> <br />