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5 <br /> principal and interest (the "Obligations") to be "arbitrage bonds," within the meaning <br /> of Section 148 of the "Code" (as defined below), or "private activity bonds" within the <br /> meaning of Code Section 141, or otherwise cause interest components of the <br /> installment payments to be includable in gross income for federal income tax <br /> purposes. Without limiting the generality of the foregoing, the County will comply <br /> with any Code provision that may require the County at any time to pay to the United <br /> States any part of the earnings derived from the investment of the financing <br /> proceeds. In this resolution, "Code" means the United States Internal Revenue Code <br /> of 1986, as amended, and includes applicable Treasury regulations. <br /> 5. Acceptance of Property Transfer- The County agrees to accept title to <br /> the Grady Brown School and its associated real property to facilitate the financing <br /> arrangements contemplated by the Agreements. <br /> 6. Miscellaneous Provisions -- All County officers and employees are <br /> authorized to take all further action as they may consider necessary or desirable in <br /> furtherance of the purposes of this resolution. The Board ratifies all prior actions of <br /> County officers and employees to this end. Upon the absence, unavailability or <br /> refusal to act of the County Manager, the Chair or the Finance Officer, any other of <br /> those officers may assume any responsibility or carry out any function assigned in <br /> this resolution. In addition, the Vice Chair or any Deputy or Assistant Clerk to the <br /> Board may in any event assume any responsibility or carry out any function <br /> assigned to the Chair or the Clerk, respectively, in this resolution. All other Board <br /> proceedings, or parts thereof, in conflict with this resolution are repealed, to the <br /> extent of the conflict. This resolution takes effect immediately. <br />