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-2- <br /> on the certificate becomes due when there is not sufficient money in the <br /> fund to pay it, the City Treasurer shall make up the deficit from the General <br /> Fund of the City and the General Fund shall be reimbursed for such advances <br /> from the proceeds of the taxes levied in this resolution and all other moneys <br /> received for or appropriated to the payment of principal and interest. <br /> (4) The proceeds of the sale of the certificate authorized by this resolution <br /> shall be paid into the Capital Equipment Fund (.#401 ) and from this fund shall <br /> be paid all expenses incurred for the purchase of street and police equipment <br /> to be financed by such proceeds. <br /> (5) To provide moneys for such payment, the City has levied upon all the taxable <br /> property in the City an irrepealable, ad valorem tax which -has been spread <br /> upon the tax rolls and will be collected .with and as a part of the other <br /> general property taxes in the City in 1984 .in an amount such that if col- <br /> lected in full will produce an amount at least 5% in excess of the amount <br /> needed to meet when due the principal and interest payments on the certificate. <br /> Such tax levy shall be irrepealable until all of the principal and interest <br /> on such certificate is paid. <br /> (6) The City Clerk is hereby authorized and directed to file a certified copy of <br /> this resolution with the County Auditor.of Hennepin and Ramsey Counties, <br /> together with such information as he shall require, and to obtain from the <br /> county auditors a certificate that this certificate of indebtedness has <br /> been entered on his bond register and the tax has been levied as required <br /> • by law. <br /> (7) The Mayor and City Manager, as the officersof the City charged with the <br /> responsibility for issuing the obligation pursuant to .this. resolution, are <br /> authorized and directed to execute and deliver the certificate to the pur- <br /> chaser, together with a certificate executed by the .Mayor and City Manager <br /> sufficient to meet the requirements of the Internal Revenue Code Section <br /> 103(c) and the rules and ..regulations promulgated under that section. Such <br /> certificate shall state that the. proceeds of the certificate of indebtedness <br /> will not be used in such a- manner as would cause the certificate to be <br /> arbitrage bonds. The certificate shall further state that to the best of the <br /> knowledge' and .belief of the certifying officers, there are no other facts, <br /> estimates, or circumstances that would materially change such expectation. <br /> t� <br /> Adopted this day of Dece4c!'/ 1984. <br /> !tJMayo. <br /> ATTEST: <br /> City5C1erk, <br /> `Reviewed for administration: <br /> • � . City Manager <br />