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S.(12', Filldlliy.s. It. 1s hereby found and determined that based upon inforinatinn pre,entl5 ' Available fi-om the City`s municipal advisors, the issuance of the Bonds %will result itra re(luctioii Of de.bt service cost to the City on the Refunded Bonds, such that the present valise of sttch delft service or interest -cost savings. (the "Redaction") is at least 3.00% :oi' the debt service oil the Refunded Bonds. The Redaction. after the inclusion �of all authorized expenses of refunding ill tile. computation of the effective inrerest rate on the: Bonds, is adequate to authorize dic issi ,111 e of the. f3olids as prop icleci [ay 'Section' 475.6.7. subdivisions 12 and I.I. of the Act, 5A3. Proceeds Pledged to the Bsc�gvr+ Fund. As ofthe.date of delivery of and payment For the Bonds, proceeds of the 136rids are! hereby pledged and appropriated and %viII be deposited iri the Escrow - Fund its follows: (f) $,—_ for the purpllse of paying interest on the Bonds to and including February L. 1016, and. (ii) $ _ for th-a purpose of redeeming on the Redemption Date the principal amount ofthe Series 20.07A Bonds maturing after the Redemption Date. 5.04, 5ecilt iiigs to Fund _t;s�ro�� _ F�uticf. Securities purdhased, if any, from the mdiieYs in the Escrow "Fund. will be. limited..to securities sliec.ifie(I ill Section 47-5:67. subdivision 8 of.the A.ct. Elilets k Assor;itates, lnc,, and/dr. U.S. Brink National Association, as agent for the City, is hereby at and. directed. to purchase for and on behalf of the City and in its name., appropriate .securities to fond the Escrow Fund. Upon the issuance and delivery of the Bond,,. the.securities So purchri;secs will be deposited with the ft.scrow Agent and held purstiant to the terms o€' the.. Memorandum of Instruction (as. defined herein) ants this resofuti(m. s.D 7. Notice of Cal i for ltecientRtioti. The IZeEitndcd 13011is trttutn frig oti Febrttaty 1, 2017. andthereafter will be redeemed and prepaid .o.n the Redemption Date in accordance with its terms and in accordance %with the terms and conditions set: forth in tile. foi-rn of Ncitice of Call for Redemption attached hereto as EXHIBIT D, which terms and conditions are hereby approved and incorporated by r(fel ence, The registrar foie the Refunded Bonds is authoriz,ed,and.direcfed: to send a copy of the �-Not.ice of Call for Redemption to the registered holder of the .Refunded Bonds. 5.W Memorandut>7 of"Tn ruction.. On or prior to the .defi.kvey of'the Bonds., the Mavor and the City Clerk are hereby authorized .and directed to .execute on .behalf of the City a Memorandum of Understanding with the Escrow A -gent in substantially the lortti now on file Avith. the Cite Clerk. All. 4ssential terms and conditions of tilt Memorandutn.of .Understanding including paynient of' reasonable charges for the services 01'.the Escrow ,Agent, are. hereby approved and adopted and blade part of this Resolution. Section .6. Authenticati.oil of"franscri.l?t. G 01, City E!I( ceedjnos. and Records. The officers I'the City are: authorized and directed tcf prepare and rurni:sh to the Purchaser and to the attorticvs approtiing the! .Bonds, c.c rti€i.eci. copies of rc��eiElli 5..3I1.d.I'CCQ)'dS N the.Citj rolating to.the Bonds and to the Financial colldition alld.afWri ofthe: ('Itv. anal such other Urfiiicates, affidavits and transcripts. as may be required to sllc�w the facts.,ithin" their kw%Vleclge or as shown by the books. .and records in their custody.alld ultdC)- their control, relating to the validity and marketability of the Bonds, and such instruments, including..any heretofore Furnished. ma) be deemed representations of the City as to the facts stated therein. 6.02: Certificatigr� _as la fAciai Statement, The Mayor and City Administrator Cic-l-kt are hetehy .aut.horired. and directed to. certify that they have examined the Official Sttttenient prepared and circulated in connection with the issuance and sale of the f3onds and that to the bi st.of their knowleda and belief the Official Statement is a coinplete and acourate rePrgsentAtion of tile facts.artd representations made::themin as of the dace of the Official Statement. 46125,5