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(c) ESCROW FUND. Amounts deposited in the Escrow Fund from Original Proceeds will be invested not in excess of the yield on the Refunded Bonds. (d) INVESTMENT EARNINGS. All investment earnings on amounts in the Debt Service Accounts may be invested without regard to yield restriction for a period not to exceed one year from the date of receipt of the amount earned. All investment earnings on amounts in the Debt Service Accounts not expended within one year from the date of receipt shall be invested at a yield not in excess of the Note Yield. 5. FURTHER CERTIFICATIONS. The Issuer will take no action which would cause the Note to become a Private Activity Bond (as such term is defined in the Code). None of the Gross Proceeds of the Note will be used directly or indirectly in any trade or business carried on by any person other than a governmental unit. No bonds or other obligations of the Issuer (a) were sold in the 15 days preceding the date of sale of the Note, (b) were sold or will be sold within the 15 days after the date of sale of the Note, (c) have been delivered in the past 15 days, or (d) will be delivered in the next 15 days, pursuant to a common plan of financing with the plan for the issuance of the Note and payable out of substantially the same source of revenues. The Issuer does not expect that the proceeds of the Note will be used in a manner that would cause it to be an arbitrage bond under Section 148 of the Code. The Issuer does not expect that the proceeds of the Note will be used in a manner that would cause the interest on the Note to be includable in the gross income of the holder of the Note under Section 103 of the Code. 6. REBATE. The Issuer acknowledges and agrees to comply with the terms of the Arbitrage Rebate Statement attached hereto as Exhibit A. 7. AMENDMENTS. The provisions hereof need not be observed and this Certificate may be amended or supplemented at any time by the Issuer if, in each case, the Issuer receives an opinion or opinions of Bond Counsel that the failure to comply with such provisions will not cause, and that the terms of such amendment or supplement will not cause, the Note to become an arbitrage bond under Section 148 of the Code, or other applicable section of the Code, or otherwise cause interest on the Note to become includable in gross income for federal income tax purposes under the Code. 8. NOTE NOT FEDERALLY GUARANTEED. Payment of debt service on the Note is not directly or indirectly guaranteed in whole or in part by the United States, within the meaning of Section 149(b) of the Code. None of the Original Proceeds will be invested directly or indirectly in federally insured deposits or accounts except for: (i) Original Proceeds invested during the applicable temporary periods described herein until such Original Proceeds are needed for the purpose for which the Note is being issued and (ii) investments of the Debt Service Accounts in Section 3(d)(i) hereof. 4