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4 . 0 3 . Kenzie District Bond Subaccount . B the Series <br /> 3 Y <br /> 1985A Bond Resolution there was established on the official <br /> books of the City a "Kenzie District Bond Subaccount" into <br /> which shall be paid the Tax Increments from the District <br /> appropriated and pledged by the HRA to the City to pay the <br /> principal of and interest on the Kenzie Bonds there shall also <br /> be paid from the Kenzie District Bond Subaccount the principal <br /> of , premium, if any, and interest on the Bonds . On or before <br /> each interest payment date with respect to the Bonds the City <br /> Treasurer shall transfer to the Bond Account the amount <br /> necessary to pay the principal of and interest on the Bonds <br /> coming due on such interest payment date. <br /> 4 . 04 . Additional Bonds . The City reserves the right <br /> to issue additional bonds payable from the Bond Account and/or- <br /> the Kenzie District Bond Subaccount as may be required to <br /> finance costs to be paid or incurred by the City in accordance <br /> with the Plan not financed hereby; provided that the City <br /> Council shall , prior to the delivery of such additional bonds , <br /> levy or agree to levy by resolution sufficient additional ad <br /> valorem taxes and special assessments which, together with <br /> other moneys or revenues pledged for the payment of said <br /> additional obligations , will produce revenues at least five <br /> percent in excess of the amount needed to pay when due the <br /> principal and interest on all bonds payable from the Bond <br /> Account . The additional ad valorem taxes , special assessments <br /> and moneys or revenues so pledged, levied or agreed to be <br /> levied shall. be irrevocably appropriated to the Bond Account in <br /> the manner provided by Minnesota Statutes , Section 475 . 61 . <br /> 4 . 05 . Pledge of Taxing Powers . The full faith and <br /> credit and taxing powers of the City are hereby irrevocably <br /> pledged to the payment of the principal of , premium, if any, <br /> and the interest on the Bonds when due. In order to provide <br /> moneys for the payment of such principal and interest which, <br /> together with the Tax Increments , Bond proceeds and other <br /> moneys appropriated for the payment and security of the Bonds <br /> in Section 4 , will meet the requirements of Minnesota Statutes , <br /> Section 475 . 61 , there is hereby levied upon all of the taxable <br /> property in the City a direct , annual , ad valorem tax which <br /> shall be spread upon the tax rolls for collection in the years <br /> and amounts set forth below, as a part of other general taxes <br /> of the City, as follows : <br /> -17- <br />