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in nonpurpose investments (as defined in Section 148(t)(6)(A) of the Code) having a <br /> substantially guaranteed yield for four years or more. <br /> 19. The Issuer has not received notice of deficiency or other notice from the Internal <br /> Revenue Service, the Department of Treasury or any other governmental agency or department <br /> challenging or questioning in any way the status of the interest portion of the Rental Payments as <br /> being excludable from gross income for federal income tax purposes, nor has the Issuer been <br /> notified of any listing or proposed listing of it by the Internal Revenue Service as an issuer that <br /> may not enter into the type of lease/purchase transaction as contemplated here. <br /> On the basis of the foregoing facts, estimates and circumstances in existence on the date <br /> hereof it is not expected that the proceeds of the Lease/Purchase Agreement will be used in a <br /> manner that would cause the Lease/Purchase Agreement to be "arbitrage bonds" under Section <br /> 148 of the Code and the Regulations. To the best of our knowledge and belief there are no other <br /> facts, estimates or circumstances which would materially change such expectations. <br /> Dated this 8th day of November, 2011, the same being the date of delivery of and <br /> payment for the Lease/Purchase Agreement. <br /> IN WITNESS WHEREOF, we have hereunto set our hands. <br /> City of Pleasanton, CA <br /> By: <br /> Y <br /> Name: Nelson Fialho <br /> City Manager <br /> Title: <br /> #359256v1 4 <br />