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Prior Sonds. All uncollected special assessments are now pledged to the payment of principal of and interest on the Sonds. The balance of the special assessments shall be payable in equal, consecutive, annual installments with general t�es for the years shown below and with interest on the declining balance of all such installments as follows: Im�rovement Designations Levy Years Collection Years Amount Rate 17. T� Levy; Coverage Test. To provide moneys for payment of the principal and interest on the Sonds there is hereby levied upon all of the t�able property in the City a direct annual ad valorem t� which shall be spread upon the t� rolls and collected with and as part of other general property t�es in the City for the years and in the amounts as follows: Levy Years Collection Years Amount See attached schedule The t� levies are such that if collected in full they, together with estimated collections of special assessments herein pledged for the payment of the Sonds, will produce at least five percent in excess of the amount needed to meet when due the principal and interest payments on the Sonds. The t� levies shall be irrepealable so long as any of the Sonds 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. Upon payment of the Refunded Sonds, the t�es levied by the Prior Resolution in the years 20_ to 20_ shall be canceled. 18. General Obligation Pledge. For the prompt and full payment of the principal and interest on the Sonds, as the same respectively become due, the full faith, credit and t�ing 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 Sonds 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. 19. Prior Sonds; Security and Pre�avment. Until retirement of the Prior Sonds, all provisions for the security thereof shall be observed by the City and all of its officers and agents. The Refunded Sonds shall be redeemed and prepaid on the Call Date in accordance with the terms and conditions set forth in the Notice of Call for Redemption attached hereto as Exhibit A, which terms and conditions are hereby approved and incorporated herein by reference. 20. Su�lemental Resolution. The Prior Resolution authorizing the issuance of the Prior Sonds is hereby supplemented to the extent necessary to give effect to the provisions hereof. 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 with such 2377316v1 1 4