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(b) The City will not directly or indirectly use or <br />allow the use of the proceeds of the Refunding Bonds in a manner <br />that would cause the Refunding Bonds to be arbitrage bonds <br />described in Section 148 of the Code, and in particular, the City <br />will not invest or allow the investment of proceeds of the <br />Refunding Bonds in investments with a yield materially higher <br />than the yield on the Refunding Bonds except as described in the <br />Tax Certificate executed in connection with the issuance of the <br />Refunding Bonds. In addition, the City will pay from time to <br />time all amounts, if any, required to be rebated to the United <br />States Government pursuant to Section 148(f) of the Code. If the <br />City fails to expend all proceeds of the Refunding Bonds within <br />six (6) months of the date of issue thereof, or establishes any <br />funds pledged to the payment of the Refunding Bonds other than as <br />currently provided herein, the City shall contact nationally <br />recognized bond counsel for advice relative to compliance with <br />the rebate requirements of Section 148 of the Code. <br /> <br /> Section 14. By separate resolution adopted this same <br />date, the City has approved and authorized execution of the Bond <br />Purchase Agreement, which sets forth the maturity schedule and <br />interest rates for the Refunding Bonds as Exhibit B thereto. <br />Said Exhibit B is hereby incorporated herein by reference to <br />provide the maturity schedule and interest rates applicable to <br />the Refunding Bonds. <br /> <br /> Section 15. The City Clerk is directed to cause the <br />Refunding Bonds to be lithographed, printed or engraved, and to <br />cause the blank spaces thereof to be filled in to comply with the <br /> <br />SF2-~SS48,~ 2 5 <br /> <br /> <br />