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<br />payment thereof in full, provided that notice of redemption thereof has been duly given. The <br />City may also at any time discharge its obligations with respect to any Bonds, subject to the <br />provisions of law now or hereafter authorizing and regulating such action, by depositing <br />irrevocably in escrow, with a suitable banking institution qualified by law as an escrow agent for <br />this purpose, cash or securities described in Minnesota Statutes, Section 475.67, Subdivision 8, <br />bearing interest payable at such times and at such rates and maturing on such dates as shall be <br />required, subject to sale and/or reinvestment, to pay all amounts to become due thereon to <br />maturity or, if notice of redemption as herein required has been duly provided for, to such earlier <br />redemption date. <br /> <br />Section 13. General Obligation Pledge. For the prompt and full payment of the <br />principal of and interest on the Bonds as the same respectively become due, the full faith, credit <br />and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the <br />Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds <br />payable therefrom, the deficiency shall be promptly paid out of any other accounts of the City <br />which are available for such purpose, and such other funds may be reimbursed from the Debt <br />Service Account when a sufficient balance is available therein. <br /> <br />Section 14. Certification of Proceedings. The officers of the City are hereby authorized <br />and directed to prepare and furnish to the purchaser of the Bonds and to Bradley & Deike, P. A., <br />Bond Counsel, certified copies of all proceedings and records of the City, and such other <br />affidavits, certificates, and information as may be required to show the facts relating to the <br />legality and marketability of the Bonds as the same appear from the books and records under <br />their custody and control or as otherwise known to them, and all such certified copies, <br />certificates and affidavits, including any heretofore furnished, shall be deemed representations of <br />the Issuer as to the facts recited therein. The officers of the City are also hereby authorized to <br />execute a continuing disclosure certificate to satisfy rules of the federal Securities Exchange <br />Commission. <br /> <br />Section IS. Certificate of Registration. The City Administrator is hereby directed to <br />file a certified copy of this resolution with the County Auditor of Anoka County, Minnesota, <br />together with such other information as he or she shall require, and to obtain the County <br />Auditor's Certificate that the bonds have been entered in the County Auditor's Bond Register. <br /> <br />Section 16. Tax Covenants. <br /> <br />16.01. The City covenants and agrees with the holders from time to time of the Bonds that <br />it will not take or permit to be taken by any of its officers, employees or agents any action other <br />than the election made in Section 16.07 of this Resolution which would cause the interest on the <br />Bonds to become subject to taxation under the Internal Revenue Code of 1986, as amended (the <br />Code), and the Treasury Regulations promulgated thereunder (the "Regulations"), in effect at the <br />time of such actions, and that it will take or cause its officers, employees or agents to take, all <br />affirmative action within its power that may be necessary to ensure that such interest will not <br />become subject to taxation under the Code and applicable Regulations, as presently existing or as <br />hereafter amended and made applicable to the Bonds had the City not made the election in <br />Section 16.07 of this resolution. <br /> <br />17 <br />