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<br />11. To further provide moneys for the prompt and full <br />payment of principal and interest on said .temporary improvement <br />bonds, the City shall issue and sell bonds, at or prior to the <br />maturity date of the bonds issued hereunder, in such amounts as <br />are needed to pay the principal and interest then due on said <br />temporary improvement bonds after the application of the <br />assessments collected, and the appropriation of such other <br />municipal funds as are properly avilable for such purpose. The <br />Council hereby finds, determines and declares that the <br />estimated collections of special assessments to be received <br />before the maturity date of said temporary improvement bonds, <br />together with the proceeds of any bonds to be issued at or <br />before said maturity date, and other revenues pledged for the <br />payment of said temporary improvement bonds and the interest <br />thereon will equal at least 5% in excess of the principal and <br />interest requirements of said temporary improvement bonds as <br />the same become due. <br />12. It is presently expected that the bonds issued <br />hereunder will be retired in whole or in part with the proceeds <br />of general obligation tax increment bonds issued in connection <br />with one or more tax increment financing districts to be <br />created in Development District No. 1. <br />- 13. For the prompt and full payment of the principal <br />and interest on the bonds, as the same respectively become due, <br />• the full faith, credit and taxing powers of the City shall. be <br />and are hereby irrevocably pledged. If the balance in the Debt <br />Service Account is ever insufficient to pay all principal and <br />interest then due on the bonds payable therefrom, the <br />deficiency shall be promptly paid out of any zither funds of the <br />City which are available for such purpose, and such other funds <br />may be reimbursed with or without interest from the Debt <br />Service Account when a sufficient balance is available therein. <br />14. The City Clerk is hereby directed to file a <br />certified copy of this resolution with the County Auditor of <br />Ramsey County, Minnesota, together with such other information <br />as he shall require, and to obtain from the Auditor his <br />certificate that the bonds have been entered in the Auditor's <br />Bond Register. <br />• <br />