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yielding investments, except for an available and reasonable <br /> "temporary period" until such proceeds are needed for the purpose <br /> for which the Bonds were issued, and for any available "minor <br /> portion. " To this effect, any proceeds of the Bonds and any sums <br /> from time to time held in the Escrow Account and Debt Service <br /> Account (or any other City account which will be used to pay <br /> principal and interest to become due on the Bonds) in excess of <br /> amounts which under then-applicable federal arbitrage regulations <br /> may be invested without regard to yield shall not be invested at a <br /> yield in excess of the applicable yield restrictions imposed by the <br /> arbitrage regulations on such investments after taking into account <br /> any applicable "temporary periods" or "minor portion" made <br /> available under the federal arbitrage regulations. In addition, <br /> the proceeds of the Bonds and money in the Fund shall not be <br /> invested in obligations or deposits issued by, guaranteed by or <br /> insured by the United States or any agency or instrumentality <br /> thereof if and to the extent that such investment would cause the <br /> Bonds to be "federally guaranteed" within the meaning of Section <br /> 149 (b) of the Internal Revenue Code of 1986, as amended, and <br /> regulations, rulings and decisions thereunder (the "Code") . <br /> 16. Coverage Test: Certificate of Registration. It is hereby <br /> found and determined that the revenues pledged herein for the <br /> payment of the Bonds will be available in amounts sufficient to <br /> produce at least five percent (5%) in excess of the amount needed <br /> to meet, when due, the principal and interest payments on the <br /> Bonds. <br /> The City Finance Director is hereby directed to file a <br /> certified copy of this Resolution with the Director of Property <br /> Taxation of Ramsey County and to obtain the certificate of said <br /> official required by Minnesota Statutes, Section 475.63. <br /> 17. General Oblictation Pledge. For the prompt and full <br /> payment of the principal of and interest on the Bonds, as the same <br /> respectively become due, the full faith and credit and taxing <br /> powers of the City shall be and are hereby irrevocably pledged. If <br /> the balance in the Debt Service Account is ever insufficient to pay <br /> all principal and interest then due on the Bonds, the deficiency <br /> shall be promptly paid out of any other funds of the City which are <br /> available for such purpose, and such other funds may be reimbursed <br /> with or without interest from the Debt Service Account when a <br /> sufficient balance is available therein. To the extent that it <br /> shall ever be necessary to provide full and timely payment of the <br /> debt service on the Bonds, the City shall levy an ad valorem tax <br /> upon all taxable property within the City sufficient for such <br /> purposes. <br /> 18. Prior Bonds: Security. Until retirement and full payment <br /> of the Prior Bonds, all provisions heretofore made for the security <br /> thereof shall be observed by the City; provided, however, that the <br /> Council hereby finds and determines that the proceeds of the sale <br /> 238053 <br /> 18 <br />