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<br /> (loA fA <br /> (e) The City will comply with the provisions of Section <br /> l48(f) of the Code (relating to paying certain excess earnings of <br /> investment proceeds of the Bonds to the United States) and the <br /> regulations promulgated thereunder. <br /> (f) Proper officers of the City charged with the <br /> responsibility of issuing the Bonds are hereby directed to make, <br /> execute and deliver certifications as to facts, estimates and <br /> circumstances in existence as of the Closing Date and stating <br /> whether there are any facts, estimates or circumstances that would <br /> materially change the City's current expectations. <br /> (g) The covenants and representations made or required by <br /> this Section are for the benefit of the Owners and may be relied <br /> upon by the Owners and Bond Counsel for the City. <br /> ARTICLE XVII <br /> DEFAULT AND REMEDIES <br /> Section 17.01. Events of Default. <br /> <br /> Each of the following occurrences or events for the purpose of <br /> this Ordinance is hereby declared to be an "Event of Default," <br /> to-wit: <br /> (i) the failure to make payment of the principal of <br /> or interest on any of the Bonds when the same becomes due and <br /> payable; or <br /> (ii) default in the performance or observance of any <br /> other covenant, agreement or obligation of the City, the <br /> failure to perform which materially, adversely affects the <br /> rights of the Owners, including but not 1 imi ted to, their <br /> prospect or ability to be r'epaid in accordance with this <br /> Ordinance, and the continuation thereof for a period of 60 <br /> days after notice of such default is given by any Owner to the <br /> City. <br /> Section 17.02. Remedies for Default. <br /> (a) Upon the happening of any Event of Default, then and in <br /> every case any Owner or an authorized representative thereof, <br /> including but not limited to, a trustee or trustees therefor, may <br /> proceed against the City for the purpose of protecting and enforcing <br /> the rights of the Owners under this Ordinance, by mandamus or other <br /> suit, action or special proceeding in equity or at law, in any court <br /> of competent jurisdiction, for any relief permitted by law, <br /> including the specific performance of any covenant or agreement <br /> contained herein, or thereby to enjoin any act or thing that may be <br /> 4588f <br /> -43- <br />