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with respect to federal or State of California taxation upon revenues or other income of the
<br />general character to be derived pursuant to the Resolution which may have the purpose or
<br />effect, directly or indirectly, of affecting the tax status of the City, its property or income,
<br />its securities (including the Bonds) or any tax exemption granted or authorized by State of
<br />California legislation or, in the reasonable judgment of the Underwriter, materially and
<br />adversely affecting the market for the Bonds or the market price generally of obligations
<br />of the general character of the Bonds;
<br />(iv) the declaration of war or engagement in, or escalation of, military
<br />hostilities by the United States or the occurrence of any other national emergency or
<br />calamity relating to the effective operation of the government of, or the financial
<br />community in, the United States; any other extraordinary event, material national or
<br />international calamity or crisis, or any material adverse change in the financial, political or
<br />economic conditions affecting the United States, the State of California or the City; a
<br />downgrade of the sovereign debt rating of the United States by any major credit rating
<br />agency or payment default on United States Treasury obligations; or a default with respect
<br />to the debt obligations of, or the institution of proceedings under any federal bankruptcy
<br />laws by or against any state of the United States or any city, county, or other political
<br />subdivision located in the United States having a population of over 1,000,000;
<br />(v) the declaration of a general banking moratorium by federal, New York or
<br />California authorities, or the general suspension of trading on any national securities
<br />exchange or the establishment of minimum prices on such national securities exchanges,
<br />or the establishment of material restrictions (not in force as the date hereof) upon trading
<br />securities generally by any governmental authority or any national securities exchange;
<br />(vi) an order, decree or injunction of any court of competent jurisdiction, or
<br />order, ruling, regulation or official statement by the SEC, or any other governmental
<br />agency having jurisdiction of the subject matter, issued or made to the effect that the
<br />delivery, offering or sale of obligations of the general character of the Bonds, or the
<br />delivery, offering or sale of the Bonds, including any or all underlying obligations, as
<br />contemplated hereby or by the Official Statement, is or would be in violation of the federal
<br />securities laws as amended and then in effect or to the effect that obligations of the general
<br />character of the Bonds are not exempt from registration under or other requirements of the
<br />Securities Act of 1933, as amended, or that the Indenture is not exempt from qualification
<br />under or other requirements of the Trust Indenture Act of 1939, as amended;
<br />(vii) the New York Stock Exchange or other national securities exchange or
<br />any governmental authority, shall impose, as to the Bonds or as to obligations of the general
<br />character of the Bonds, any material restrictions not now in force, or increase materially
<br />those now in force, with respect to the extension of credit by, or the charge to the net capital
<br />requirements of, Underwriter;
<br />(viii) the purchase of and payment for the Bonds by the Underwriter, or the
<br />resale of the Bonds by the Underwriter, on the terms and conditions herein provided shall
<br />be prohibited by any applicable law, governmental authority, board, agency or
<br />commission;
<br />(ix) any event occurring, or information becoming known which, in the
<br />reasonable judgment of the Underwriter, makes untrue in any material respect any material
<br />statement or information contained in the Official Statement, or has the effect of causing
<br />55A-135
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