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in the City, which is to be spread upon the tax rods and collected with and as part <br />of other general taxes of the City. Such taX is to be credited to the Debt Service <br />Fund above provided and is in the years and amounts as follows (year stated being <br />year of levy for collection the following year) <br />Year <br />(See Attachment A) <br />4 , 03, The City Manager is directed to file a certified copy of this resolution <br />with the Count Auditor of Ramsey County and to obtain the certificate required by <br />Minnesota Statutes , Section 475 * 63 . . <br />4 . 04 * Is is hereb y determined that upon the receipt of proceeds of the Bonds <br />for <br />p � a ent of the Refunded Bonds that an irrevocable appropriation to <br />the debt service <br />(Proceeds) fund for the Refunded Bonds will � have been made vrithin the <br />Meaning of Minnesota Statutes, ecttioh 1, Subdivision and the pity Manager <br />• - such fact to and request the County <br />is hereby authorized and directed to certify � <br />Auditor to cancel an and all tax leviiss made by the resolution authorizing and <br />approving the Refunded Bonds. <br />4, 05 . It is hereby determined that the estimated collection of the foregoing <br />Taxes and Assessments will produce at least five percent in excess of the amount <br />needed to meet when due the principal and interest payments on the Bonds. The <br />p P <br />tax levy <br />herein provided is irre ealable until all of the Bonds are paid, provided that <br />'t Manager annuall , at the time the City makes its tax levies " certify to the <br />the City y <br />County <br />Auditor the amount available in the Debt Service Fund to pay pr1ncipal and <br />interest due durin g the ensuing year, and the County Auditor is to thereupon <br />reduce the lev y collectible during such year by the amount so certified 1F <br />4.06 . It is hereby eterma.ned that the Improvements financed by the Bonds <br />y and the fit hereby <br />will directly and indirectly benefit the abutting property y y <br />covenants with the holders from time to time of the Bonds' as follows <br />a The it has levied Assessments for the Improvements and has <br />{ � y <br />taken all steps necessary to assure prompt collection thereof. The City <br />Council has caused all actions and proceedings relative to the making and <br />financin of the Improvements fin�e►need hereby to have been taken with due <br />g p � . <br />dill ence that were required for the construction of each Improvement <br />g <br />financed wholly or partly from the procee ds of the Bonds, and for the final <br />and valid le of the Assessments and the approprfation of any other funds <br />� <br />needed to pay the Bonds and interest thereon when due . <br />In the event of any current or anticipated deficiency in the <br />(b) � <br />Assessments, the City Council will levy ad valorem taxes in the amount of said <br />current or anticipated deficiency. <br />City (c) The it will keep complete and accurate books and' records <br />showing ll receipts and disbursements in connection with the Improvements <br />g � appropriated for their payment) <br />; <br />Assessments levied therefor and other funds app p p y <br />aU collections thereof and disbursements therefrom; moneys on hand; and the <br />balance of unpal*d Assessments. <br />=47467 <br />0200-10 1 <br />