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Bonds. The moneys in the Refunded Bonds Fserow Fund will:be used solely for tale purposes herein set forlb and for no other purpose, except that any surplus in the Refunded. Band's Escrow fund may be remitted to the City: all in accordance with till Meniot•lndum of Instruction by and between the CitY.niul the Refunded Bonds Cscrow Agent.. 4..03.. Prior Debt Service Fund. rite: Debt Service fund hcreto%M ef6ated for the Refundcd I#onds pursuant to ttic Prior Resolution shall be terminated .on the Redet-6ption Date, fbl.lowitigthe kcde,110tiari of the Refunded. Bonds :and all ntalicy s .therein shall hereby be transferred to the Refunded Bonds 17seraw-Account, 4.04. Pledge of IjiLx C:v-, 'io -provide moneys 601. Payment of tile principal and interest oil Lilo Bonds inaturing after the Redemption Date. there is hereby levied a direct annual irrepealable ad valorem t!ix L1I?0rl all of the taxable 11r0pe1ty in the City Which will be spread upc+n tIte.ta.Y rolls and collected with d ii1 part of other general taxes of the City; The Taxcs will be credited W—The Debt .Service Fund above provided and.vvill be in the years and amounts as set.forth pit Exhibit C. The tax levies are such that if collected in fled they, together with estimated collections of investment earnings (and until the Redemption Hate, all amounts in the Escrow Fund), ad valorem. taxes And other revenues herein pledged :for the< payment of the Bonds, will produce at. least rive percent in excess of the amount needed to street when clue the prineipaI and interest payments qn file Bonds. The fay levies will be: irrcpealdble so tong as ariy of the Bonds are outsta.nding.and unpaid, .provided that the: City reserves the right to reduce the levies in the manner and to the extent perrtaittc d by Section 475.61, subefivkioil cif the Act 4.03, Caiicelfatioii _of Prior Rcdqu Jg ion ate. Following Ute payment in full orall oittsti nding principal of and interest on the Refunds d Bonds oil the Redemption Date, the {'sty Adaiinistrator-Cleric is:.hereby_directed to earthy sucli fact to and request the County Auditor of Ramsey County, Minnesota to cancel anytiri.d all tag: tevics for taxes. made by the.Prior Resoltrt:ioir. 4.06. General 4bliltioti P_ P_ le fie. 17nr.1he prompt and fall payment of the principal and interest can the Bonds, as the same. respectively become due,..the full faith, credit and taxing. powers of tile. City will be and.are hereby irrevocably pledged. If the balance in the Escrow Fund or Debt Service !'tutcf is. ever intitif'f.`r.ciem to pay all principal and interest then due oil the Bonds and any other bonds payable 111erc.frain, the .deficiency Will .be prompti-y paid out of nionies ill the general tiincl a!'tlie City wltictr are available. for.such purpose, and Snell general land may be reimbtirsed with or without int:creSt. i1•0111 the Escrow Fund or Debt:Service Fiindwhcn a. sufficient balance k available: therein. 1::07: Certi:ficatc_.,o'�C;c�ilt�v Auditor as t.o tistF�itiaii. The City Aclniittistrator=Clerf: is. authorized and. -directed to file a certified copy: of'tliis resolution with the CountyAtiditor and to obtain file certif ea.te required by Section 475.;63 of the Act. Section 7_ :Refundir�:t: fticiit s: Reclem�li�ttt�of.ttel'gridtxl B.ottd4. .{.)!. 1'.ur e _c�t'_1Zef IdJJte. The. Rcfttnded `I3c)nds consist of fate:OWS :Series 2f1(}?A' Bonds. The 2017 through 202E maturities of the Series 20D7A Bonds wHl be called: for redemption on I'ebruai.y 1. 2616, in the principal amount of $7SO,ol?U. It is hereby .found and determined that lei Fe tipt�n information presently available broil the City's municipal advisor, the. issuance of rite Bonds,.a portion of which will be.us.ed to:redeem and prepay the Refund d .Bonds, is consistent with covenants inade with tine .holders of the Refunded Bonds. 461:25ivl C7,1f.ci.l t.�!(t•12