US Bank 8/5/2015 - Laserfiche WebLink

(g) Allocations and Accounting. The proceeds of the Schedule will be allocated to expenditures not later than 18 months after the later of the date the expenditure is made or the date the Equipment is placed in service, but in no event later than the date that is 60 days after the fifth anniversary of the date hereof or the retirement of the last Schedule, if earlier. The allocation of proceeds will be made by consistently employing the direct-tracing method of accounting. No proceeds of the Schedule will be allocated to any expenditure to which proceeds of any other obligations have heretofore been allocated. 7. Pre-Issuance Accrued Interest. There is no pre-issuance accrued interest on the Schedule. 8. Expenditure of Investment Proceeds. The best estimate of the City is that investment proceeds resulting from the investment of any proceeds of the Schedule pending expenditure of such proceeds for costs of the Equipment will be retained in the appropriate account and disbursed to pay or reimburse property costs in addition to those described in paragraph 6 above. 9. No Replacement Proceeds. There are no amounts that have a sufficiently direct nexus to the Schedule or to the governmental purposes of the Schedule to conclude that the amounts would have been used for that governmental purpose if the proceeds of the Schedule were not used for that purpose. Specifically, (a) No Sinking Funds. Other than to the extent described in this certificate, there is no debt service fund, redemption fund, reserve fund, replacement fund, or similar fund reasonably expected to be used directly or indirectly to pay principal or interest on the Schedule. (b) No Pledged Funds. Other than amounts described in this certificate, there is no amount that is directly or indirectly pledged to pay principal or interest on the Schedule, or to a guarantor of part or all of the Schedule,such that such pledge provides reasonable assurance that such amount will be available to pay principal or interest on the Schedule if the City encounters financial difficulty. For purposes of this certification, an amount is treated as so pledged if it is held under an agreement to maintain the amount at a particular level for the direct or indirect benefit of the holders or the guarantor of the Schedule. (c) No Other Replacement Proceeds. There are no other replacement proceeds allocable to the Schedule because the City reasonably expects that the term of the Schedule will not be longer than is reasonably necessary for the governmental purposes of the Schedule. Furthermore, if the term of the Schedule is longer than is reasonably necessary for the governmental purposes of the Schedule, the City does not reasonably expect to have available amounts during the portion of such period that is longer than is reasonably necessary. The City reasonably expects that the Schedule would be issued to achieve the governmental purpose of the Schedule independent of any arbitrage benefit. The Schedule would have been issued if the interest on the Schedule were included in gross income (assuming that the hypothetical taxable interest rate would be the same as the actual tax-exempt interest rate). 10. Yield on the Schedule. For the purposes of this Certificate, the yield on the Schedule is the discount rate that, when used in computing the present value as of the issue date -3-