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__ __ <br />4.01. Pled�e. (a) The City hereby pledges ta the payment oi the principal of and interest on <br />the Note all Availabl� Tax Inc:rement as defined in the Note. Available Tax Zncrement shali be applied to <br />paytnent of the principal of and interest on the Note in accordance with the terms o�tha Note. <br />4.02. Bond Fund. Until the date the Nate is no longer outstanding and no principal thereof or <br />interest thereon (ta the extent required to be paid pursuant to this resolution) remains unpaid, the City <br />shall maintain a separate ar►d special "Bond Fund" to be used for no purpose other than the paynaent of <br />the principal of and interest on the Note. The City irrevocably agees to appropriate to the Bond Fund <br />upon ar before each paym�nt date all Available Tax Increment. Any Available Tax Increment remaining <br />in the Bond Pund shall be transferred to the Caty's accouni for TIF' District No. 4 upon the paynrzent of all <br />principal and interest to be paid with respect to the Note. <br />4.03. Additianal Obli at�. While the Note is outstanding, the City shall nat pledge or permit <br />the pledge of all ox any portion of the Available T� Increment to the payment of principal of or interest <br />on any obligations af the City unless and to the extent sucla pledge is subordinate to the pledge ta the <br />Note. <br />Section 5. Certification of �roceedin�s. <br />5.01. Certification of Procesdin�s. The officers of the City are hereby authorized and directed to <br />prepare and furnish to the Owner of the Note certificd copzes of all proceedings and records of the City, <br />and such other affidavits, certificates, and in�ormation as may be required to show the facts reIating to the <br />legaIity and marketabitity af the Nate as the same appear from the books and records under their custody <br />and control or as otherwise lcnown to them, and all such certified copies, certificates, and �davits, <br />including any heretoFore furnished, shalI be deemed representations of the City as to the facts reciied <br />therein. <br />Section 6. Effective Date. This resolution shaIl be effective upon full execution o� the <br />Agreement. <br />Adopted �his 13�` day of December, 2010. <br />Mayor <br />City Administrator <br />378990�6 SJB AR200-IO c_g <br />