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f· aMd cSf:Net1y or 1nd1rec~ly to acqutH Mihal' yfeldJnliDvestmant., except (1) for a reasonable temporary perioc2 un111 auch proceeds are needed for the purpoae for wbJch the Bond& were fasued. and (ü) in ac1ctiUon to the a'bave, in aD amount Dot greater tban the JesHr of tive percent of the proœec1a of the DoDd. or $100,000. To this efteot, aDY proceed. of the Bonc1a and any' au. from time to time held in the Debt Semoe Fullel (01' any ather City aocount which w111 be us.eI to pay principal and interêSt to become due on the Bonds) in exoess ot amounts which under the appUcabJe federal arbitrage reauJatioX18 may b. mv.ated without 1'tÞprd ... to yi8ld .hall Dot be Invested at a yield Ù1 excess of the appUcab1e y1eld N.triot1ol1S fmpOHd by the arbitrage regulation. on such fn~eltment8 after taking into account any applicable tempore.ry periods or mmor portion made avatlab18 under the federal arbftre.p Nf.UJaUona. In addition, the proMed. of the Bonda and money in the Fund w1U not be mve.ted in obl1gaUolUi or depoalt. f..ued by, ~ranteec1 by or tnaured by tha United States or any agency or inltl"WDentaUty thereof it and to thé extent that such investment would caUl. the Bonds to be federally parantMc1 within the meaniu¡ of Section 149(b) of the Internal Revenue Code of 1988, u auumded (the Code) . 5.04. It 18 hereby found and determtned tllat the Pl'ooeede anel Fund. ava1Jabl. and approprmted to the Escrow Account to¡r8ther with the permitted et.X"nmp on the 1D.v8stment ot the Elorow Aocount, togetber with Proceed. al1d P'ul1da not appropriated to the E.orow Âccount but .~ai1able to pay and redeem oortain of the Refunded Bonds in aoool'c1anoe with Seotion &.02 herein, w1l1 be suff1oi&nt to pay at maturity or redemption all of the p7Jnœpal of, 1nte1'88t on and redemption premium (if any) on the :aefunded Bonds. 5. OS. Securities purchaaed from the mome. in the Esorow Account lheJl be limited to aecurities eJ)ecifiec1 Û1 Seot1on 475.87. Subdivision 8 of the Act. The Finance Director fa hereby authorized and cUrooted to purchase tor and on behalf 01 the City and. in ita name, appropriate Mourities to fund the Escrow Account. Upon the issuance and delivery of the Bonds, tbe .ecurlt1es so purchaaed are to be deposited with the Esorow Agent and b.eld pUl'&uant to the te1'DlB of the EaOl'OW' Apeement and the Reaolution. a. 06. The Refunded Bondi are to be J'8de.med and. prepaid on the caU date çecWed in Resolution No. 9019. The I.efunded Bonds will be redeemed and prepaid in accordance with their terms aDd in aoaorctanoe with the terms aDd conditions aet forth In the forms of Notice of Call for Redemption attached hereto 8$ Exhibit B which termli and oonc:l1tiona 8t'é bereby approved and incorporated bereiD by Nferenee. The Finance Director is berebyauthorized aDd directed to forthwith publish, If required by law, the NoUce of CaU for Redemption m a publioation quaut1ed under MiJ1Desota Statutes, SeoUoD 475.54 and to .end written notice. of oa11 to the "gistered owners for 'tbé Refunded Bonds. 1.0'1. General Ob11Þtion Pledø. For the prompt and run payment of the principal and interest on the Bonda, as the larDe respectively become due. the fuU faith, credit and taxinl powers of the City shall be and are he1"Oby irrevooably pllldp4. If the. balance In the Eaorow Aooount 01' Debt Semce Fund fa ever fn.ufficient to pay all principal and mt.Nlt then due on the Boncls and any other bond. payable therefrom. the deficiency .ball be promptly paid out of mom_ Ú1 the genel'a1 fund of the City whioh åre available tor IJucb purpo.e, and luch pneNl fund may be reimbursed with or without !nterat from the EsOl'OW Acoount or Debt Service Account wbel1 a sU£ficdent balance:ta available tbeHin. Nn:J"' _110-13 13