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1.6 Separate Issue/Single Issue. There are no obligations that (in relation to the 1994 Bonds) satisfy all of the following: (i) are being sold or issued at substantially the same time; (ii) are being sold pursuant to the same plan of financing; and (Hi) are reasonably expected to be paid from substantially the same source of funds. All of the 1994 Bonds (i) are being sold at substantially the same time; (ii) are being sold pursuant to the same plan of financing; and (iii) are reasonably expected to be paid from substantially the same source of funds. 1.7 Definitions. Capitalized terms used herein which are not otherwise defined herein shall have the respective meanings set forth in the Indenture. Unless the context otherwise requires, the following capitalized terms have the following meanings for purposes of this Tax Certificate: AIRS means the ARS and IRS, collectively, or any of them, as appropriate. ARS means the Auction Rate Securities as defined in Section 3(b) of the Indenture. Available Construction Proceeds means all Issue Price Proceeds of the 1994 Bonds, less the amount of such Issue Price Proceeds used to pay the costs of issuing the 1994 Bonds (including underwriters' discount), plus all Investment Proceeds (received, accrued or reasonably expected to be earned) on such Issue Price Proceeds. Available Construction Proceeds include Investment Proceeds earned on amounts held in the Reserve Account, if any, from the Closing Date to the earlier of (i) two years after the Closing Date, and (ii) substantial completion of the Project. Bona Fide Debt Service Funds means the Revenue Fund(including the Interest Account, the Principal Account, and the Redemption Account but excluding the Capitalized Interest Account and the Reserve Account), to the extent such Fund and included Accounts comply with the requirements of Section 3.8 hereof. Bond Year means the period beginning on the Closing Date and ending on the first anniversary of the Closing Date (unless the City and the Authority select otherwise) and each succeeding one-year period (with the last Bond Year ending on the first date that none of the 1994 Bonds remain outstanding). For purposes of the preceding sentence, the Issuer may (prior to the fifth anniversary of the Closing Date) select any date prior to the first anniversary of the Closing Date in lieu of the first anniversary of the Closing Date. Closing Date means the date of this Tax Certificate. • Code means the Internal Revenue Code of 1986, or any successor, and the applicable Treasury Regulations promulgated thereunder. De Minimis Amount means, as set forth in Treasury Regulations Section 1.148-1(b), with respect to original issue discount or original issue premium, (i) an amount that does not exceed 2 percent multiplied by the stated redemption price at maturity, plus (ii) any original issue premium that is attributable exclusively to reasonable underwriters' compensation. Gross Proceeds has the meaning used in Treasury Regulations Section 1.148-1(b), and generally means all proceeds derived from or relating to the 1994 Bonds, including amounts received as a result of investing the Issue Price Proceeds, amounts pledged to pay debt service on the 1994 Bonds, and amounts expected to be used to pay debt service on the 1994 Bonds. Guarantor means Municipal Bond Investors Assurance Corporation. LA1-69477.4 2