state any material fact necessary in order to make the
<br /> statements contained therein, in the light of the
<br /> circumstances under which they were made, not misleading,
<br /> and, in the reasonable opinion of the Representative, an
<br /> amended or supplemented Official Statement should be
<br /> delivered in connection with the offers or sales of the
<br /> Bonds to reflect such event, the Authority promptly will
<br /> prepare at its expense an amendment or supplement which will
<br /> correct such statement or omission and the Authority shall
<br /> promptly furnish to the Representative a reasonable number
<br /> of copies of such amendment or supplement .
<br /> (f) No Material Change in Finances. Except as
<br /> disclosed to the Representative in writing, there have been
<br /> no material adverse changes in the financial condition of
<br /> the Authority since June 30, 1993 .
<br /> (g) No Breach or Default. The Authority (i) is not in
<br /> default, nor has it been in default, as to principal or
<br /> interest with respect to an obligation issued or incurred by
<br /> the Authority and (ii) is not and will not, in any manner
<br /> which would materially adversely affect the transactions
<br /> contemplated by the Authority Documents or the JPA
<br /> Agreement, be in breach of or in default under any
<br /> applicable constitutional provision, law or administrative
<br /> rule or regulation of the State or the United States, or any
<br /> applicable judgment or decree or any trust agreement, loan
<br /> agreement, bond, note, resolution, ordinance, agreement or
<br /> other instrument to which the Authority is a party or is
<br /> otherwise subject, and no event has occurred and is
<br /> continuing which, with the passage of time or the giving of
<br /> notice, or both, would constitute, in any manner which would
<br /> materially adversely affect the transactions contemplated by
<br /> the Authority Documents, a default or event of default under
<br /> any such instrument; and, as of such times, the
<br /> authorization, execution and delivery of the Authority
<br /> Documents and compliance with the provisions of each of such
<br /> agreements or instruments and of the JPA Agreement do not
<br /> and will not, in any manner which would materially adversely
<br /> affect the transactions contemplated by the Authority
<br /> Documents or the JPA Agreement, conflict with or constitute
<br /> a breach of or default under any applicable constitutional
<br /> provision, law or administrative rule or regulation of the
<br /> State or the United States, or any applicable judgment,
<br /> decree, license, permit, trust agreement, loan agreement,
<br /> bond, note, resolution, ordinance, agreement or other
<br /> instrument to which the Authority (or any of its officers in
<br /> their respective capacities as such) is subject, or by which
<br /> it or any of its properties is bound, nor will any such
<br /> authorization, execution, delivery or compliance result in
<br /> the creation or imposition of any lien, charge or other
<br /> security interest or encumbrance of any nature whatsoever
<br /> upon any of its assets or properties or under the terms of
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