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therefrom, the deficiency will be promptly paid out of monies in the general fund of the City which are available for such purpose, and such general fund may be reimbursed with or without interest from the Debt Service Fund when a sufficient balance is available therein. 4.07. State Credit Enhancement. (a) Pursuant to a resolution adopted by the City Council on November 23, 2020, the City Council authorized and directed City staff to enter the City into a Credit Enhancement Program Agreement (the "Credit Agreement") with the Minnesota Public Facilities Authority (the "Authority"). Pursuant to Minnesota Statutes, Section 446A.086, as amended (the "Credit Enhancement Act"), the State of Minnesota, acting through the Authority, may provide a guarantee of any deficiency of debt service payments on the Bonds. Pursuant to the Credit Enhancement Act, the City makes the following representations and covenants: (i) the City will notify the Authority of any default or potential default in the payment of principal or interest due on the Bonds; (ii) the City will deposit with the Registrar all payments of principal and interest due on the Bonds at least 3 business days prior to the payment due date; (iii) the agreement the City enters into with the Registrar will include all provisions required by the Credit Enhancement Act; and (iv) the City will comply with all provisions of the Credit Agreement and with the Credit Enhancement Act. (b) Pursuant to subdivision 3 of the Credit Enhancement Act, the City acknowledges and agrees that the Registrar is required to inform the Minnesota Commissioner of Management and Budget and the Authority if the Registrar becomes aware of a default or potential default in the payment of principal or interest on the Bonds or if, on the day 2 business days before the date a payment is due on the Bonds, there are insufficient funds to make the payment on deposit with the Registrar Section Section 5. Authentication of Transcript. 5.01. City Proceedings and Records. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other certificates, affidavits and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their custody and under their control, relating to the validity and marketability of the Bonds and such instruments, including any heretofore furnished, will be deemed representations of the City as to the facts stated therein. 5.02. Certification as to Official Statement. The Mayor and City Administrator and Finance Director, or any of them, are hereby authorized and directed to certify that they have MU210-280-685657.v2 9