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CITY OF SANTA ANA COMMUNITY DEVELOPMENT AGENCY - <br />AFFORDABLE HOUSING FINANCIAL, ANALYTICAL & ADVISORY SERVICES <br />City further represents, acknowledges and agrees that: <br />1.City uses the services of one or more municipal advisors registered with the SEC to advise it in <br />connection with municipal financial products and the issuance of municipal securities; <br />2.City is not looking to KMA to provide, and City shall not otherwise request or require KMA to <br />provide, any advice or recommendations with respect to municipal finantial products or the· <br />issuance of municipal securities (including any advice or recommendations with respect to the <br />structure, timing, terms, and other similar matters concerning such financial products or <br />issues); <br />3.City warrants that the provisions of this contract and the services to be provided hereunder are <br />not intended (and shall not be construed) to constitute or include any municipal advisory <br />services within the meaning of Section 15B of the U.S. Securities Exchange Act of 1934, as <br />amended, and the rules and regulations adopted thereunder; and <br />4.Notwithstanding all of the foregoing, the City recognizes that interpretive guidance regarding <br />municipal advisory activities is currently quite limited and is likely to evolve and develop during <br />the term of the contract and, to that end, the City will work with KMA throughout the term of <br />the contract to ensure that the contract and the services to be provided by KMA hereunder, is <br />interpreted by the parties, and if necessary amended, in a manner intended to ensure that the <br />City is not asking KMA to provide, and KMA is not in fact providing or required to provide, any <br />municipal advisory services. <br />Keyser Marston Associates, Inc. Page I 21 <br />EXHIBIT 1