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date..a payment is due on the :Bonds, there are insufficient funds to .make the payment. on deposit with the Registrar, .4.06. Pledge of Tax Levy, .For the purpose of paying.a. portion of the principal of and interest. on the Bonds., there .is levied a direct .annual irrepealable: ad. valorem tax upon all of the .taxable property in the City; whichwilt be spread. upon .the. tax rolls and collected. with and as part of other general taxes of the City.. The Taxes will be credited to the Debt. Service Fund aboveprovided and will be in the years and, amounts as attached hereto as EXHIBIT C. 4:07. Certification to County .Auditor :as to.. _Debt Service Fund Amount. It is hereby determined that the. estimated collections of Taxes. and Assessments -will .produce. at least Lave percent. (5%) in excess of the amount needed to meet when due the principal .and .interest payments on the Bonds. The tax Ievy hereinprovided is. irrepealable until all of the. Bonds are paid, .provided that at the time the City makes its annual tax levies the. City Clerk may certify to .the County Auditor of Ramsey .County; Minnesota (the. "County Auditor") the amount available in the Debt Service Fund to pay principal and interest due during the ensuing year, and the County Auditor will thereupon reduce the levy collectible during such year by the amount.so certified. 4.08, Registration of Resolution. The City Clerk is authorized and directed to file a. certified copy of this resolution with the County Auditor and to -obtain the certificate required by Section 475.63 of the Act. Section. 5. Authentication of Transcript. 5101, City Proceedings add Records: The officers of the City are authorized and directed to prepare andfurnish to.:lhe Purchaser and to. the attorneys. approving. the. Bonds,. certified copies of proceedings and records of the Cityxelating to the. Bonds. and to.. the :financial condition and affairs. of the City; and such other certificates; affidavits and transcripts as maybe :required to show the facts within their knowledge or as shown by the books and . records in their custody and under their control, relating to the validity and marketability of the Bonds, .and such. -instruments, including .any heretofore furnished, will. be deemed representations of the City as to the facts stated therein. 5.02. Certification as to Official Statement. The Mayor,. Treasurer and. the City Clerk. are authorized. and directed to certify that they have examined the Official Statement prepared and circulated in connection with the .issuance and sale of the Bonds and that to the best of their knowledge and belief the Official Statement is a complete and accurate representation of the facts and representations made therein as of the date of the Official Statement. 5.03: Other Certificates. The Mayor and the City.Clerk are hereby authorized and directed to furnish to the. Purchaser at the: closing such. certificates as are required as .a condition of sale. Unless litigation shall have been. commenced and be pending questioning the Bonds or the organization of :the City or incumbency of .its officers,. at the:.closing: the Mayor and the City Clerk shall also execute and deliver to the. Purchaser a suitable certificate as to absence of material .litigation, and the City Clerk shall also execute and deliver a certificate as to payment for and delivery of the Bonds. 5.04, Payment of Costs of Issuance, The .City authorizes. the Purchaser to. forward the amount of .Bond proceeds allocable to the payment of issuance. expenses to K1einBank, :Chaska, ..Ivlinnesota on the closing date. for further distribution as directed by the.City's municipal advisor, Ehlers & Associates; .Inc. Section 6. Tax Cov.enanL 526486v1 GAF GE190=14