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SECTION 6. THE UNDERWRITER'S AND PLACEMENT AGENT'S RIGHT TO CANCEL
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<br /> The Underwriter and the Placement Agent shall have the right to cancel their respective
<br />obligations hereunder to purchase and place the Certificates (and such cancellation shall not constitute a
<br />default for purposes of Section 8 hereof) by notifying the City and the Trustee in writing or by telegram
<br />of its election to make such cancellation prior to the Closing Time, if at any time between the date of this
<br />Purchase Contract and the Closing Time:
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<br /> (a) A committee of the House of Representatives or the Senate of the Congress of
<br />the United States begins active consideration of legislation, or a tentative decision with respect to
<br />legislation is reached by such a committee, or legislation is favorably reported by such a
<br />committee or is introduced, by amendment or otherwise, in or is passed by the House of
<br />Representatives or the Senate, or is recommended to the Congress of the United States for
<br />passage by the President of the United States, or is enacted by the Congress of the United States,
<br />which would have the purpose or effect of imposing federal income taxation upon interest
<br />received on the Certificates or on obligations of the general character of the Certificates, which,
<br />in the opinion of the Underwriter and the Placement Agent, materially adversely affects the
<br />market price of the Certificates;
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<br /> (b) A decision by a court established under Article III of the Constitution of the
<br />United States or the Tax Court of the United States is rendered, or a ruling, regulation or order of
<br />the Treasury Deparhnent of the United States or the Internal Revenue Service is made or
<br />proposed, or any other event has occurred, which has the purpose or effect of imposing federal
<br />income taxation upon interest received on the Certificates or on obligations of the general
<br />character of the Certificates which, in the opinion of the Underwriter and the Placement Agent,
<br />materially adversely affects the market price of the Certificates;
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<br /> (c) Any legislation, ordinance, rule or regulation is introduced in or is enacted by
<br />the General Assembly of the State of Missouri or by any other governmental body, department or
<br />agency of the State of Missouri, or a decision by any court of competent jurisdiction within the
<br />State of Missouri is rendered which, in the opinion of the Underwriter and the Placement Agent,
<br />materially adversely affects the market price of the Certificates, or litigation challenging any
<br />statute under which the Certificates are to be issued is filed in any court in the State of Missouri;
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<br /> (d) A stop order, ruling, regulation or official statement by, or on behalf of, the
<br />Securities and Exchange Commission or any other governmental agency having jurisdiction of
<br />the subject matter is issued or made to the effect that the issuance, offering or sale of obligations
<br />of the general character of the Certificates, or the issuance, offering or sale of the Certificates,
<br />including all underlying obligations, as contemplated hereby or by the Official Statement, is in
<br />violation or would be in violation of any provision of the federal securities laws, the Securities
<br />Act of 1933, as amended and as then in effect, or the registration provisions of the 1934 Act, as
<br />amended and as then in effect, or the qualification provisions of the Trust Indenture Act of 1939,
<br />as amended and as then in effect;
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<br /> (e) Legislation is enacted by the Congress of the United States of America, or a
<br />decision by a court of the United States of America is rendered, to the effect that obligations of
<br />the general character of the Certificates, or the Certificates, including all the underlying
<br />obligations, are not exempt from registration under or from other requirements of the Securities
<br />Act of 1933, as amended and as then in effect, or the 1934 Act, as amended and as then in effect,
<br />or that the Indenture is not exempt from qualification under, or other requirements of, the Trust
<br />Indenture Act of 1939, as amended and as then in effect;
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