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not use or permit the use of any amounts received by the County with respect to the Series 1996 Bonds in any manner, and shall not talo or permit to be taken any other action or actions, which would cause any Series 1996 Bonds to be an "arbitrage bond" within the meaning of Section 148, or "federally guaranteed" within the meaning of Section 149(b), of the Internal Revenue Code of 1986, as amended (in this Section called the "Code"), or otherwise cause interest on the Series 1996 Bonds to become subject to Federal income taxation, including the creation of any rebate funds or other funds and/or accounts required in that regard. (B) The County shall at all times do and perform all acts and things permitted by law and this Resolution which are necessary or desirable in order to assure that interest paid on Series 1996 Bonds will be excluded from gross income for purposes of Federal income taxes and shall take no action that would result in such interest not being so excluded. SECTION 23. REBATE. Anything to the contrary notwithstanding contained herein or in the original Resolution, the County shall at least annually transfer into the "Series 1996 Rebate Account" which is hereby created and established, from funds and accounts created under this Resolution to which income on investments attributable to the Series 1996 Bonds has been deposited, appropriate amounts sufficient to pay to the United States of America all amounts due with respect to the Series 1996 Bonds under the provisions of section 148(f) of the Code. The earnings on the Series 1996 Rebate Account shall be added to and become a part of the Series 1996 Rebate Account. Moneys in the Series 1996 Rebate Account shall be used by the County to pay any rebate liability under section 148(f) of the Code as and when due in accordance with instructions delivered to the County by Bond Counsel from time to time. SECTION 24. PRELIMINARY OFFICIAL STATEMENT. The County Administrator is authorized and directed to cause a Preliminary Official Statement to be prepared and to deem the Preliminary Official Statement final for purposes of Rule 15c2-12 (the "Rule") of the Securities and Exchange Commission, except for "permitted omissions," as defined in such Rule. SECTION 25. CONTINUING DISCLOSURE. The County hereby covenants and agrees that, in order to provide for compliance by the County with the secondary market disclosure requirements of the Rule, that it will comply with and carry out all of the provisions of that certain Continuing Disclosure Certificate in substantially the form attached hereto as Exhibit B, to be executed by the County and dated the date of issuance and delivery of the Series 1996 Bonds, as it may be amended from time to time in accordance with the terms thereof (the "Continuing Disclosure Certificate"). Notwithstanding any other provision of this resolution or the Original Resolution, failure of the County to comply with such Continuing Disclosure Certificate shall not be considered an event of defaults however, any Bondholder may take such actions as may be necessary and appropriate, including seeking mandate or specific 9