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43 <br /> consequence of an action, or failure to act, by the County, the interest is included in the <br /> Bondholder's gross income for federal income tax purposes; (b) the date on which the <br /> County receives notice from a Bondholder that the Bondholder has been advised (i) in <br /> writing by the Internal Revenue Service that the Service has issued a statutory notice <br /> of deficiency or similar notice to the Bondholder which asserts, in effect, that interest <br /> is included in the Bondholder's gross income for federal income tax purposes, as a <br /> result of an action, or failure to act, by the County, or (ii) by an opinion of counsel <br /> received by the Bondholder which concludes, in effect, that interest is included in the <br /> Bondholder's gross income for federal income tax purposes as a result of an action, or <br /> failure to act, by the County; (c) the day on which the County is advised in writing by <br /> the Commissioner or any District Director of the Internal Revenue Service that there <br /> has been issued a public or private ruling of the Internal Revenue Service that the <br /> interest is included in the Bondholder's gross income for federal income tax purposes <br /> as a result of an action, or failure to act, by the County; or (d) the day on which the <br /> County is advised in writing by counsel to the Bondholder that a final determination, <br /> from which no further right of appeal exists, has been made by a court of competent <br /> jurisdiction in the United States of America in a proceeding with respect to which the <br /> County has been given written notice and an opportunity to participate and defend <br /> that the interest is included in the Bondholder's gross income for federal income tax <br /> purposes, as a result of an action, or failure to act,by the County. <br /> "Event of Taxability" means any event, occurrence or situation, resulting from <br /> an action, or failure to act, by the County, the effect of which is to cause interest on the <br /> Bonds paid by the County to be includible in a Bondholder's gross income for federal <br /> income tax purposes. <br /> "Date of Taxability" means the first date upon which interest on this Bond paid <br /> by the County is included in a Bondholder's gross income for federal income tax <br /> purposes as a result of an Event of Taxability or a Determination of Taxability. <br /> This Bond constitutes the entire issue of [$ ] Limited Obligation <br /> Bonds, Series 2023A/2023B (the "Bond"), issued under, and secured by, a Trust <br /> Agreement dated as of June 1, 2021, between the County and The Bank of New York <br /> Mellon Trust Company, N.A., as trustee (the "Trustee"), as previously supplemented <br /> and as supplemented by a First Supplemental Trust Agreement between the County <br /> and the Trustee and dated as of June , 2023 (as supplemented, the "Trust <br /> Agreement"). <br /> 25 <br />