All transcripts must include a signature and no-litigation certificate. The certificate signature must substantially conform to the security's signature, and if points of conformance are unsatisfactory by this test, the securities must be reprinted or the certificate must be subscribed to satisfactory conformity. Public securities issues in litigation, the majority of the titles to office in litigation, issuer creation litigation, and boundary litigation in which final judgment may reduce tax base so that 100% assessment of the remainder cannot, at maximum ad valorem rates, generate tax revenue sufficient to meet gross debt service requirements disqualify an issue for approval.

Source Note:The provisions of this §53.9 adopted to be effective January 1, 1976.