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<br />26. Certificate of Registration. The Manager is <br />hereby directed to file a certified copy of this resolution with <br />the County Auditor of Ramsey County, Minnesota, together with <br />such other information as he or she shall require, and to obtain <br />the County Auditor's Certificate that the Bonds have been entered <br />in the County Auditor's Bond Register. <br /> <br />27. Records and Certificates. The officers of the <br />City are hereby authorized and directed to prepare and furnish to <br />the Purchaser, and to the attorneys approving the legality of the <br />issuance of the Bonds, certified copies of all proceedings and <br />records of the City relating to the Bonds and to the financial <br />condition and affairs of the City, and such other affidavits, <br />certificates and information as are required to show the facts <br />relating to the legality and marketability of the Bonds as the <br />same appear from the books and records under their custody and <br />control or as otherwise known to them, and all such certified <br />copies, certificates and affidavits, including any re furnished, <br />shall be deemed representations of the City as to the facts <br />recited therein. <br /> <br />28. Negative Covenant as to Use of Proceeds and <br />Project. The City hereby covenants not to use the proceeds of <br />the Bonds or to use the Project, or to cause or permit them to be <br />used, or to enter into any deferred paYment arrangements for the <br />cost of the Project, in such a manner as to cause the Bonds to be <br />"private activity bonds" within the meaning of Sections 103 and <br />141 through 150 of the Code. <br /> <br />29. Tax-Exempt Status of the Bonds; Rebate; Elections. <br />The City shall comply with requirements necessary under the Code <br />to establish and maintain the exclusion from gross income under <br />Section 103 of the Code of the interest on the Bonds, including <br />without limitation requirements relating to temporary periods for <br />investments, limitations on amounts invested at a yield greater <br />than the yield on the Bonds, and the rebate of excess investment <br />earnings to the United States. <br /> <br />The Mayor, Manager and Treasurer/Finance Director, or <br />any of them, are hereby authorized and directed to make such <br />elections as to arbitrage or rebate matters relating to the Bonds <br />as they deem necessary, appropriate or desirable in connection <br />with the Bonds, and all such elections shall be, and shall be <br />deemed and treated as, elections of the City. <br /> <br />30. No Designation of Oualified Tax-Exempt <br />Obligations. The Bonds exceed in amount those which may be <br />qualified as "qualified tax-exempt obligations" within the <br />meaning of Section 265(b) (3) of the Code, and hence are not <br />designated for such purposes. <br /> <br />906107.01 <br /> <br />26 <br />