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1:06. T;eiiiinnrar}. Bonds, The C'it.Y "MY elect tO deliver in liel.t of printed definitive Bowls one or mc)re h.j)C"ti'ittcn tcmporary Bonds ill strl)staittiall . the form set forth in EXI-1il3l1f 13 aflaclied ltcreti,. with such changes as may be neccssrit•y to reflect more than one maturity in a single tenlpurary.bondl: I1pdm the execution and delivery of definitive Bonds the teriporary Bonds will be exthangcd thcrcror anei t'ittlC.�l.lid. Section 3. Form elf .13ond. 3.0 i . C:s�ecutit�n oi' t to :13onc) : The Bonds will be' printed oe typeyvritien in substantially .the fem-in attached Hereto as GXI-11.BIT 13. 3.0'. A.ppr6yin9l_t' Qai _QPh iorl. 7'lie City Administrator -Clerk is: authorized and directed to obtain a coy of the proposed zipproving legal opinion of Kennedy & *Graten, Cliartered, Niirtlleapdili:s. lkhrincsota. which i4 to b complete e cept:.as to dating thereof and cause (lie apirrion to be prittiteif oll (w accoinpany each Bond.. Section 4. f3onc�s;_'t cttrits•:. Covenants: l :scr( 4:01. Ili bi..5orvicc Fund. .For'the rotivenicne:d and pro per administratign of the ijn)jjcvc ti7 be horcowe:d and repaid oil the Bands, and to pro"iele adequate and sj)eci.f�ic security for the Purcirtscr alld hold.us from tine; to tirrle of the Bon&- ureic is licrebv created a special fuiid to lie designated the Ciencral Obligation Refunding Bonds,. Seric� 201.5A Delft Service Fund (the "Debt .Service Fund") 10. be itdil.iiilistered and :tluaintained .by the City Treasurer as a.booLkeeping account separate and apart from all ether ftind s rnainlained in the official financial records of the City. The Debt Service fund will. •be, maintained in the. manner herein spec:ilied until all of. the. Refunded bonds have: been paid and until all of the.Bonds and the interest thereon have been fully paid. To the Debt Service Fund, there is hereby pledged and irrevocably irpl3copriated and (here will be credfiitecl., (.i) any balance remitted to the ..C:'ity uponthe termination o.f' the Escrow Agreement (as hri-eitt delinpd); (6) taxes hereafter levied for the payment of the Bonds and interest thereon, (iii} after Februa*- F. 2016 (the `•!redemption Date"). ad valortnn taxes collected for the payment r►t'the Refunded Bonds afier the. Redepiption One pursuant to. lievies. Iilade in the resolution atatiori ing the sale and issUance. of the E eftinded Bonds (the "Prior Resolution"), Which. levies will not be cancelled except as pernlitte.d by Section 475.6:1., subdivision 3.of the Act: (iv) all investment earnings can funds in the Debt Service 1: tol(t and (v) any and all other moneys which are I]rnpci'I)' available and alaliicrpriatt;d by the City Council to the Debt.Service fund. The Wiloutit of any sdit'plus. remaining ill the Debt Service .Fund when the Bonds and. i)imrest thereon are paid Will be used as provided in. Section 4.75.61, subdivision Act. The debt service fund hereiotdre established . for the Refunded Bonds pursuant to the..l'ricar Resolution ,hall be terniiitate:d after the lteki 1pton Date,. and all monies thereirl are hereby transferred it) the Debi Service Fund. herein created. 4-02. I?scra�v_F citld: Proceeds of the Bonds In the amount.01'.$ _ will he dcposited*•in, te flu a separaid (the "Refirnded Bands # scrow Fund") maintained.by 1.1..S.Bank. National Associat.itin;.Sf. p.aul_ Minnesota, acting as escrow agent (the "Refunded Bon(is Escrow Agent"). Such funds. will be received:by file Refunded Bonds Escrow Agent and applied to fluid the Refunded. flonds Escrow fund, and are. hereby irrevocably p:iedged and appropriated to the Rt?rurlded Bonds Escrow fund. Tile Refunded Bonds Fscru\v Fund will be held in. a non-interest-bearin�ty cash account, the am0utit deposited therein beirtg sufficient to (i) pay whendue the interest to accrue; on the:Bonds. to and iiicluding the RedenipHon O,ite: anal f ii;l flay on the .Redemp.tion Date the -principal amount of fhe. Refunded. Bonds then. out:standina. The Refunded Fiords 1"Iscrow Funds will be irrevocably- alspropriatedf to the pay rn( it: of'thc principal of, the Refunded Bonds Until tine procceds of the Bonds therein are applied. to prepayment of the lzefunklcd t!�E?;jtil G:U� d�1:19U-t3 6