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pay for said bonds in accordance with the terms of his bid. <br />The check accompanying any accepted proposal shall be applied <br />on the purchase price or, if such proposal is accepted but <br />not performed, unless such failure of performance shall be <br />caused by any act or omission of the city, shall then be <br />cashed and the proceeds retained by the city. The check <br />accompanying each unaccepted proposal will be returned <br />promptly. <br /> <br /> Chan~e in Tax Exempt Status: At any time before <br />the bonds are tendered for delivery, the successful bidder <br />may disaffirm and withdraw the proposal if the interest <br />received by private holders from bands of the same type and <br />character shall be declared to be taxable income under <br />present federal income tax laws, either by a ruling of the <br />Internal Revenue Service or by a decision of any federal <br />court, or shall be declared taxable by the terms of any <br />federal income tax law enacted subsequent to the date of <br />this notice. <br /> <br /> Legal Opinion: The unqualified opinion of O'Melveny <br />&Myers, attorneys, approving the validity of said bonds will <br />be furnished the successful bidder at or prior to the time of <br />delivery of the bonds, at the expense of the city. A copy <br />of such opinion, certified by an officer of the city by his <br />facsimile signature will be printed on the back of each bond. <br />No charge will be made to the purchaser for such printing or <br />certification. <br /> <br /> No Liti~ation Certificate: At the time of payment <br />for and delivery of said bonds, the city will furnish the <br /> <br /> <br />