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7 <br /> filings and reports (including the reports of material events) constituting the <br /> continuing disclosure provided for in this resolution. <br /> 13. Resolutions as to Tax Matters -- The County will not take or omit to <br /> take any action the taking or omission of which will cause the Bonds to be "arbitrage <br /> bonds," within the meaning of Section 148 of the "Code" (as defined below), or <br /> "private activity bonds" within the meaning of Code Section 141, or otherwise cause <br /> interest on the Bonds 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 proceeds of the <br /> Bonds, and the County will pay any such required rebate from its general funds. For <br /> this paragraph, "Code" means the United States Internal Revenue Code of 1986, as <br /> amended, including applicable Treasury regulations. <br /> 14. Book-Entry System for Bond Registration --The County will issue the <br /> Bonds by means of a book-entry system, with one bond certificate for each maturity <br /> immobilized at The Depository Trust Company, New York, New York ("DTC"),and not <br /> available for distribution to the public. The book-entry system for registration will <br /> operate as described in the Official Statement. Therefore, so long as the book-entry <br /> system of registration with DTC is in effect, (a) the County will make Bond payments <br /> only to DTC or its nominee as registered owner of the Bonds, (b) the County will not <br /> be responsible or liable for any transfer of payments to parties other than DTC or for <br /> maintaining, supervising or reviewing the records maintained by DTC or any other <br /> person related to the Bonds, and (c) the County will not send redemption notices (or <br /> any other notices related to the Bonds) to anyone other than DTC or its nominee. The <br /> Board, by resolution, may elect to discontinue the County's book-entry system with <br /> DTC. The Board authorizes the Finance Officer to enter into any agreements such <br /> officer deems appropriate to put into place and carry out the book-entry system with <br /> DTC. <br /> 15. Finding as to Useful Life and Term of the Bonds- The Board finds and <br /> determines that the average weighted maximum useful life of the projects to be <br /> financed with the proceeds of the Bonds is at least twenty years, subject to ordinary <br />