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Year of Tax Levy Year of Tax Collection Amount 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 200l 2002 $2l2,476* 249,021 264,374 262,791 292,309 309,l64 324,339 348,250 369,967 378,926 375,726 413,497 415,988 437,673 450,853 *previously levied The tax levies are such that if collected in full they, together with estimated collections of special assess- ments and other revenues herein pledged for the payment of the Bonds, will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds. The tax levies shall be irrepealable so long as any of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota statutes, Section 475.61, Subdivision 3. 20. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Bonds, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 21. Certificate of Registration. The Manager is hereby directed to file a certified copy of this resolution with the County Auditor of Ramsey County, Minnesota, together 39