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EXHIBIT C <br /> Representations and Warranties relating to tax matters <br /> 1 . As of the date of issuance of the Bond, ( i ) there are <br /> not outstanding any issues of bonds the interest on which is <br /> exempt from federal income tax by virtue of the provisions of <br /> Section 103( b) ( 6 ) (A) or (D) of the Code and the proceeds of which <br /> were to be used with respect to the Project or other facilities <br /> located in the County, or outside of the County but within five <br /> miles of the Project , and the principal user of which is or will <br /> be the Company or one or more related persons (as defined in <br /> Section l03(b) ( 6 ) (C) of the Code) and ( ii ) the sum of (A) the <br /> aggregate amount of "capital expenditures" (within the meaning of <br /> Section 103(b) (6) (D) of the Code) with regard to the Project or <br /> to such other facilities paid or incurred during the period <br /> beginning three years before the date of the issuance of the Bond <br /> (and financed otherwise than out of the Bond proceeds) , and (B) <br /> the aggregate authorized face amount of the Bond, is less than <br /> $10,000 ,000 . <br /> 2. The commencement of the Acquisition of the Project , and <br /> each of the several components thereof, occurred subsequent to <br /> the date the Authority and the Company executed the Memorandum of <br /> Agreement, dated December 6, 1985, except that no less than <br /> $250, 000 shall have occurred subsequent to the date the Authority <br /> and the Company entered into a Supplemental Memorandum of <br /> Agreement, dated February 25, 1986 . <br /> 3 . All of the Bond proceeds (after deducting amounts used <br /> to pay expenses of issuing the Bond) will be used to pay those <br /> items of the Cost of Acquisition of the Project , or portions <br /> thereof, which constitute costs of acquisition, construction, <br /> reconstruction or improvement of land or property of a character <br /> subject to the allowance for depreciation within the meaning of <br /> Section 103(b) ( 6) (A) of the Code and the Tax Regulations. <br /> 4. During the period commencing 31 days before the date of <br /> issuance of the Bond, other than the Bond, neither the Company <br /> nor any related person (or group of related persons which <br /> includes the Company) has guaranteed, arranged, participated in, <br /> assisted with, borrowed the proceeds of, or leased facilities <br /> financed by, obligations issued under Section 103(b) of the Code <br /> by any state or local governmental unit or any constituted <br /> authority empowered to issue obligations by or on behalf of any <br /> state or local governmental unit other than the Authority. <br /> During the period commencing on the date of issuance of the Bond <br /> and ending 31 days thereafter, there will be no obligations <br /> C-1 <br />