CC PACKET 05231989 - Laserfiche WebLink

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outstanding, the HRA will not issue any additional obligations payable from the Tax Increment . Section 5 . County Auditor Registration, Certification of Proceedings, Investment of Moneys, Arbitrage, Designation of Note as Qualified Tax Exempt Obligation and Maturity of Note. 5 . 01 . County Auditor Registration_. The Executive Director is hereby authorized and directed to file a certified copy of this resolution with the County Auditors of Hennepin and Ramsey Counties , together with such other information as the County Auditors shall require, and to obtain from each County Auditor a certificate that the Note has been entered on his bond register as required by law. 5 . 02 . Certification of Proceedings . The officers of the HRA and the County Auditors of Hennepin and Ramsey Counties are hereby authorized and directed to prepare and furnish to the purchaser of the Note and to Dorsey & Whitney, Bond _ Counsel, certif.ied. copies of all proceedings and records of the- HRA, and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of the Note as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the HRA as to the facts recited therein. 5 . 03 . Tax Covenant . The HRA covenants and agrees with the holders from time to time of the Bonds that it will not take or permit to be taken by any of its officers, employees or agents any action which would cause the interest on the Note to become subject to taxation under the Internal Revenue Code of 1986 , as amended (the "C^de" ) , and the Treasury Regulations promulgated thereunder (the Regulations" ) , and covenants to take any and all actions within- its powers to ensure that the interest on the Note will not become subject to taxation under the Code and the Regulations . The HRA will cause to be filed with the Secretary of Treasury an information reporting statement in the form and at the time prescribed by the Code. 5 . 04 . Arbitrage Certification. The Chairman, Secretary and Executive Director, being the officers of the HRA charged with the responsibility for issuing the Note pursuant to this resolution, are authorized and directed to execute and deliver to the purchaser thereof a certificate in accordance with the provisions of Section 148 of the Code, and Sections 1 . 103-13 , 1 . 103-14 and 1 . 103-15 of the Regulations , stating the facts , estimates and circumstances in existence on the date of -9-