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(b) In the event of any current or anticipated. -deficiency M.Assessments and Taxes,. the City Council will levy additional ad valorem taxes in the amount,of:the current or anticipated. deficiency: (c) The City will keep complete and :accurate books and records showing. receipts and disbursements . in connection with the 2018 Assessable Improvements, Assessments; and. Taxes levied therefor and other funds appropriated for their payment, collections thereof and disbursements therefroi, monies on hand and, the balance of unpaid Assessments. (d) The City will cause its. books: and records to be: audited at least annually and will. furnish copies, of such. audit reports to any interested person upon request. (e) At least. twenty %percent (201/q) of the cost to the City of the .2018 Assessable Improvements described herein will be specially assessed against benefited properties. 4.04. General Dbli atiori. Pled e. For the: prompt.and full. payment ofthe principal. of:and interest on the Bonds, asthe same respectively become due., the full faith, credit and taxing powers of the City will be and.are hereby irrevocably pledged. If the balance in the Debt Service. Fund is ever insufficient to pay all. principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency will be promptly paid out of monies in the.general. fund ❑ f the City which. are available for such .purpose, and :such .general fond may be reimbursed with or without interest from the Debt Service Fund. when a sufficient balance. is available therein. 4.05, State Credit Enhancement. (a) Pursuant to :a resolution adopted by the City Council on. May 15., 2.018, the City Council authorized and directed City staffto enter the City..into a Credit Enhancement Program Agreement (tile. "Credit_ Agreement") with the Minnesota. Public Facilities Authority (the "Authority"): Pursuant to Minnesota. Statutes, Section 446A.086, as amended (the "Credit. Enhancement Act"), the State of Minnesota, acting through the Authority, may provide a guarantee of any deficiency of debt service .payments on. the Bonds. Pursuant to the Credit. Enhancement Act, the City snakes the following representations and. covenants: (i) the City will notify the. Authority of any default: or potential default in the payment of principal or interest due on. the Bond; (ii): the City will deposit with tile. Registrar all payments of princ.ipai and interest due on the Bonds at least three business days prior to the payment due date; (iii) the agreement. the City enters into with. the Registrar will .include all provisions required by the Credit Enhancement Act; and (iv) the City will comply with. all provisions of the Credit Agreement and with the Credit Enhancement Act. (b) Pursuant to subdivision 3 of the .Credit Enhancement Act, the City.acknowl.e.dges and agrees that the Registrar is required to inform the Minnesota Corm-nissioner of Management .. and Budget and the Authority if the Registrar becomes aware of a. default or potential defauit in the payment of principal or interest on the Bonds or if, on the day two business days before the. 526486y1 GAF GE190-14