Laserfiche WebLink
or obligatory for any purpose or entitled to any security or <br /> benefit under this resolution unless and until a certificate of <br /> authentication on such Certificate has been duly executed by <br /> the manual signature of an authorized representative of the <br /> Registrar . Certificates of authentication on different <br /> Certificates need not be signed by the same representative . <br /> The executed certificate of authentication on each Certificate <br /> shall be conclusive evidence that it has been authenticated and <br /> delivered under this resolution. When the Certificates have <br /> been so executed and authenticated, they shall be delivered by <br /> the Finance Director to the purchaser thereof upon payment of <br /> the purchase price in accordance with the contract of sale <br /> heretofore made and executed, and the purchaser shall not be <br /> obligated to see to the application of the purchase price. <br /> Section 4 . Security Provisions . <br /> 4 . 01 . Sinking Fund. So long as any of the <br /> Certificates are outstanding and any principal thereof or <br /> interest thereon unpaid, the Finance Director shall maintain a <br /> separate and special sinking fund (the Sinking Fund) to be used <br /> for no purpose other than the payment of the principal of and <br /> interest on the Certificates and on such other certificates of <br /> indebtedness of the City as have been or may be directed to be <br /> paid therefrom. The City irrevocably appropriates to the <br /> • Sinking Fund (a) any taxes levied in accordance with this <br /> resolution, and (b) such other moneys as shall be received and <br /> appropriated to the- Sinking Fund from time to time . If the <br /> balance in the Sinking Fund is at any time insufficient to pay <br /> all interest and principal then due on all bonds payable <br /> therefrom, the payment shall be made from any fund of the City <br /> which is available for that purpose, subject to reimbursement <br /> from the Sinking Fund when the balance therein is sufficient . <br /> 4 . 02 . Ad Valorem Taxes . In order to provide the <br /> amounts required by Minnesota Statutes , Section 475 . 61, <br /> Subdivision 1 , for the payment of the Certificates , there is <br /> hereby levied upon all of the taxable property of the City a <br /> direct, annual ad valorem tax, which shall be collectible with <br /> other taxes in the years and amounts as follows : <br /> • <br /> -10- <br />