Common use of Private Activity Clause in Contracts

Private Activity. The District will take no action or refrain from taking any action or make any use of the proceeds of the Loan or any Parity Loans or of any other moneys or property which would cause any Tax-Exempt Bonds or any Parity Loans issued on a tax- exempt basis for federal income tax purposes to be “private activity bond” within the meaning of Section 141 of the Code;

Private Activity. The District will take no action or refrain from taking any action or make any use of the proceeds of the Loan Bonds or any Parity Loans Bonds or of any other moneys monies or property which would cause any Tax-Exempt the Bonds or any Parity Loans Bonds issued on a tax- tax-exempt basis for federal income tax purposes to be “private activity bondbonds” within the meaning of Section 141 of the Code;.