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• Section 6 . County Auditor Registration, Certification <br /> of Proceedings, Investment of Moneys and Arbitrage. <br /> 6 . 01 . County Auditor Registration. The City Clerk is <br /> hereby authorized and directed to file a certified copy of this <br /> resolution with the County Auditor of Ramsey County and the <br /> County Auditor of Hennepin County, together with such other <br /> information as the respective County Auditors shall require, <br /> and to obtain from said County Auditors a certificate that the <br /> Bonds have been entered on his bond register and the taxes <br /> described in Section 4 . 07 hereof have been levied as required <br /> by law. <br /> 6 . 02 . Certification of Proceedings . The officers of <br /> the City, the County Auditor of Ramsey County and the County <br /> Auditor of Hennepin County are hereby"authorized and directed <br /> to prepare and furnish to the purchaser of the Bonds and to <br /> Dorsey & Whitney, Bond Counsel , certified copies of all <br /> proceedings and records of the City, and such other affidavits , <br /> certificates and information as may be required to show the <br /> facts relating to the legality and marketability of the Bonds <br /> as the same appear from the books and records under their <br /> custody and control or as otherwise known to them, and all such <br /> certified copies , certificates and affidavits , including any <br /> heretofore furnished, shall be deemed representations of the <br /> City as to the facts recited therein. <br /> 6 . 03 . Covenant . The City covenants and agrees with <br /> the holders from time to time of the Bonds that it will not <br /> take or permit to be taken by any of its officers, employees or <br /> agents any action which would cause the interest. on the Bonds <br /> to become subject to taxation under the Internal Revenue Code <br /> of 1954 , as amended (the Code) , and the Treasury Regulations <br /> promulgated thereunder (the Regulations) , and covenants to take <br /> any and all actions within its powers to ensure that the <br /> interest on the Bonds will not become subject to taxation under <br /> the Code and the Regulations . In particular , the City <br /> covenants that it shall not take any action or exercise any <br /> remedies pursuant to any development agreement relating to the <br /> District if the effect thereof would be, in the opinion of the <br /> City' s bond counsel , to cause the Bonds to be considered <br /> " industrial development bonds" or ''consumer loan bonds" <br /> pursuant to the Code . <br /> 6 . 04 . Investment of Moneys on Deposit in Bond <br /> Account . The City Treasurer shall ascertain monthly the amount <br /> on deposit in the Bond Account . If the amount on deposit <br /> therein ever exceeds by more than $318 , 750 (so long as any <br /> Bonds are outstanding; when no Bonds are outstanding this <br /> • amount shall be zero unless additional bonds have been issued <br /> and made payable <br /> -19- <br />