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<br />required by Minnesota Statutes, Section 475.63. <br /> <br />9 . I tis her e by d e t e r m i n e d t hat t 11 elm f' r 0 v e men t s t 0 be <br />financed by the Bonds will directly and indirectly benefit the <br />abutting property, and the City hereby covenants with the holders <br />from time to time of the Bonas as follows: <br /> <br />(a) The City will cause the assessments for the <br />Improvements to be promptly levied so that the first <br />installment will be collectible not later than 1980 and <br />will take all steps necessary to assurE' pr01TIpt <br />collection. The City Council shall cause all further <br />actions and proceedings relative to the making and <br />financing of the Improvements to be taken with due <br />diligence that are required for the construction of <br />each Improvement financed wholly or partly from the <br />proceeds of the Sonds and for the final and valid levy <br />of special assessments and the appropriation of any <br />other funds needed to pay the obligations and interest <br />thereon when due. <br /> <br />(b) In the event of any current or anticipated <br />deficiency in said special assessments, the City <br />Council will levy ad valorem taxes in the amount of <br />said current or anticipated deficiency. <br /> <br />(c) The City will keep complete and accurate <br />books and records showing all receipts and <br />disbursements in connection with the Improvements, the <br />taxes levied and the assessm~nts levied therefor and <br />other funds appropr.iated for their payment, and all <br />collections thereof and dlsburse~ents therefrom, moneys <br />on hand and balance of unpaid assessments. <br /> <br />(d) The City will cause its books and records to <br />be audited at least annually by qualified public <br />accountants and will furnish copies of such audit <br />reports to any interested person upon request. <br /> <br />10. The officers of the City arE~ hereby authorized and <br />directed to prepare and furnish to the purchaser of the Bonds and <br />to the attorneys approving the same, certified coples of <br />proceedings and records of the City relating to the Bonds and to <br />the financial condition and affairs of the City, and such other <br />certificates, affidavits and transcripts as may be requ.ired to <br />show the facts within their knowledge or as shown by the books <br />