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23. Securities: Escrow Aqent. Securities purchased from moneys in the Escrow Account shall be limited to securities set forth in Minnesota statutes, section 475.67, Subdivision 8, and any amendments or supplements thereto. Securities purchased from the Escrow Account shall be purchased simultaneously with the delivery of the Bonds. The City Council has investigated the facts and hereby finds and determines that the Escrow Agent is a suitable financial institution to act as escrow agent. 24. RedemDtion of Prior Bonds. The Prior Bonds which mature in 1995 and thereafter shall be redeemed and prepaid on February 1, 1994, in accordance with the terms and conditions set forth in the Notices of Call for Redemption attached hereto as Exhibit A, Exhibit B and Exhibit C, respectively, which terms and conditions are hereby approved and incorporated herein by reference. Said Notices of Call for Redemption shall be mailed to the respective paying agent or agents for the Prior Bonds, prior to said redemption date and therefor to the registered owner of each Prior Bond at the address shown on the registration books kept by the registrar for the Prior Bonds pursuant to the Escrow Agreement. 25. Escrow Agreement. On or prior to the delivery of the Bonds the Mayor and Manager shall, and are hereby authorized and directed to, execute on behalf of the City an Escrow Agreement. The Escrow Agreement is hereby approved and adopted and made a part of this resolution, and the City covenants that it will promptly enforce all provisions thereof in the event of default thereunder by the Escrow Agent. 26. Purchase of SLGS. The Finance Director, or anyone designated by the Finance Director to act in his behalf, is hereby authorized an directed to purchase the appropriate united states Treasury Securities, state and Local Government Series, from the proceeds of the Bonds in accordance with the provisions of this resolution and to execute all such documents (including the appropriate subscription form) required to effect such purchase in accordance with the u.s. Treasury Regulations (31 CRF Part 344). 27. certificate of Reqistration. The Manager is hereby directed to file a certified copy of this Resolution with the County Auditor of Ramsey County, Minnesota, together with such other information as the County Auditor shall require, and to obtain the County Auditor's certificate that the Bonds have been entered in the County Auditor's Bond Register. 28. Records and Certificates. The officers of the City are hereby authorized and directed to prepare and furnish to 26957 40