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<br />19. If any moneys of the City other than moneys <br />received from the City State-Aid Highway Fund are used for the <br />payment of the Highway Bonds, the moneys so used shall be <br />restored to the appropriate fund from the moneys next received <br />by the City from the Construction or Maintenance Account in the <br />City's State-Aid Highway Fund which are not required to be paid <br />into a debt service account for other obligations. <br /> <br />20. There is hereby irrevocably pledged and <br />appropriated to the Debt Service Account established herein <br />moneys allotted or to be allotted to the City from its account <br />in the City's State-A~d Highway Fund in an amount sufficient to <br />pay the principal of and interest on the Highway Bonds issued <br />hereunder as they respectively become due. <br /> <br />21. The City Council shall adopt a resolution in <br />substantially the form attached hereto as Exhibit A, certifying <br />to the State Commissioner of Transportation the amount of money <br />required annually for the payment of principal and interest on <br />the Highway Bonds, and the City Treasurer shall forthwith <br />transmit said resolution to the Commissioner of Transportation, <br />all in accordance with Minnesota Statutes, Section 162.18, <br />Subdivision 4. Upon receipt from the Commissioner of Finance <br />of the annual amount of money needed for payment of principal <br />and interest due each year, the same shall be deposited in the <br />Debt Service Account established herein. <br /> <br />22. The City hereby finds, declares and determines <br />that the state-aid allotments, together with other funds herein <br />pledged for the payment of the Highway Bonds, will, if <br />collected when due, produce at least five percent in excess of <br />the amount needed to meet when due the principal and interest <br />payments on the Highway Bonds. <br /> <br />23. The following provisions of paragraphs 23, 24, <br />25, 26 and 27 shall apply only to the Series 1 Bonds: There is <br />hereby created a special fund designated "General Obligation <br />Tax Increment Bonds (Development District No.1) Fund" (the <br />"Fund") to be held and administered by the Treasurer separate <br />an9 apart from all other funds of the City. The Fund shall be <br />ma~ntained in the manner herein specified until all of the <br />Series 1 Bonds herein authorized and made payable from the Fund <br />and any other general obligation tax increment bonds hereafter <br />issued to complete the Project, including any modifications or <br />additions thereto, and made payable from the Fund and the <br />interest thereon have been fully paid. The proceeds of the <br /> <br />26 <br />