4/24/12 - Barnegat Township School District

(f) this Purchase Contract when duly authorized, executed and delivered, will
constitute a legal, valid and binding obligation of the Board enforceable against the same in accordance with
the terms hereof, except as the enforcement hereof may be affected by bankruptcy, insolvency or other laws
or legal or equitable principles affecting the enforcement of creditors' rights generally (“Creditors' Rights
Limitations”);
(g) the execution and delivery by the Board of the Official Statement and this Purchase
Contract and compliance with the obligations on the Board's part contained herein and therein will not
conflict with or constitute a breach of or default under any material constitutional provision, law,
administrative regulation, judgment, decree, loan agreement, indenture, bond, note, ordinance, resolution,
agreement or other instrument to which the Board is a party or to which the Board or any of its properties or
other assets is otherwise subject, nor will any such execution, delivery or compliance result in the creation
or imposition of any lien, charge or other security interest or encumbrance of any nature whatsoever upon
any of the properties or other assets of the Board under the terms of any such law, regulation or instrument,
except as provided or permitted by the aforementioned documents;
(h) all approvals, consents and orders of any governmental authority, legislative body,
board or agency having jurisdiction in any matter that would constitute a condition precedent to or the
absence of which would materially and adversely affect the due performance by the Board of its obligations
under this Purchase Contract, the Bonds and the transactions contemplated hereby and thereby have been, or
prior to the Closing will have been, duly obtained including, but not limited to, the approval of the Local
Finance Board in the Division of Local Government Services in the Department of Community Affairs of
the State, it being understood that this representation and warranty does not extend to such approvals,
consents and orders as may be required under the Blue Sky or securities laws of any jurisdiction in
connection with the offering and sale of the Bonds;
(i) the Bonds, when issued and delivered in accordance with the Refunding Bond
Ordinance and the Resolution and sold to the Underwriter as provided herein, will be valid and legally
enforceable obligations of the Board and, unless paid from other sources, are payable ultimately from ad
valorem taxes to be levied upon all the taxable real property within the School District without limitation as
to rate or amount except to the extent of Creditors’ Rights Limitations;
(j) the information contained in the Preliminary Official Statement and the Official
Statement (including any supplements or amendments pursuant to paragraph (m) of Section 4) relating to
the Board and the transactions contemplated hereby and as described in the Preliminary Official Statement
and the Official Statement (including any supplements or amendments pursuant to paragraph (m) of Section
4) are, and as of the date of Closing will be, true, correct and complete in all material respects, and such
information does not and will not contain any untrue statement of a material fact or omit to state a material
fact which is necessary to make the statements therein, in light of the circumstances under which they were
made, not misleading;
(k) except as may otherwise be disclosed in the Official Statement, there is no action,
suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, governmental agency
or public board or body pending or, to the best knowledge of the Board, threatened adversely affecting the
existence of the Board or the entitlement of its elected officials to their respective offices, or which may
affect or which seeks to prohibit, restrain or enjoin the issuance, sale or delivery of the Bonds, or this
Purchase Contract, or which contests the exclusion from gross income for federal income tax purposes of
the interest on the Bonds or the completeness or accuracy of the Preliminary Official Statement or the
Official Statement or which contests the powers of the Board or any authority or proceedings for the
Barnegat Township Board of Education Meeting Minutes
April 24, 2012 75