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1,. ~.. <br />For the prompt and full payment of the principal and <br />interest on the bonds, as the same respectively become due, the <br />full faith, credit and taxing powers of the City shall be and <br />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 other 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 />18. The Clerk-Administrator is hereby directed to <br />file a certified copy of this resolution with the County <br />Auditor of Ramsey County, Minnesota, together with such other <br />information as he shall require, and to obtain from the Auditor <br />his certificate that the bonds have been entered in the <br />Auditor's Bond Register. <br />19. The officers of the City are hereby authorized <br />and directed to prepare and furnish to the purchaser of the <br />bonds, and to the attorneys approving the legality of the <br />issuance thereof, 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 heretofore <br />furnished, shall be deerned representations of the City as to <br />the facts recited therein. <br />20. Notwithstanding any provisions herein to the <br />contrary the City reserves the right to terminate, reduce, or <br />apply to other lawful purposes the tax increments herein <br />pledged to the payment of the bonds and interest thereon to the <br />extent and in the manner permitted by law. <br />The motion for the adoption of the foregoing <br />resolution was duly seconded by member Larson and <br />upon vote being taken thereon, the following voted in favor <br />thereof: <br />Members Chestovich, Larson, Ciernia <br />and the following voted against the same: None <br />(Mayor Warkentien and Member Eggert being absent) <br />Whereupon said resolution was declared duly passed <br />and adopted. <br />~- <br />