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• sum sufficient for the payment thereof in full with interest <br /> accrued from the due date to the date of such deposit . The <br /> Issuer may also at any time discharge its obligations with <br /> respect to any Obligations, subject to the provisions of law <br /> now or hereafter authorizing and regulating such action, by <br /> depositing irrevocably in escrow, with a bank qualified by law <br /> as an escrow agent for this purpose, cash or securities which <br /> are authorized by law to be so deposited, bearing interest <br /> payable at such time and at such rates and maturing or callable <br /> at the holder 's option on such dates as shall be required to <br /> pay all principal and interest to become due thereon to <br /> maturity. <br /> Section 6. Registration of Obligations . The Clerk is <br /> hereby authorized and directed to file a certified copy of this <br /> resolution with the County Auditors of Hennepin and Ramsey <br /> Counties, together with such additional information as the <br /> Auditors may require, and to obtain a certificate from each <br /> Auditor that the Obligations have been duly entered upon their <br /> bond registers and the tax required by law has been levied. <br /> Section 7. Authentication of Transcript. The <br /> officers of the Issuer and the County Auditors of Hennepin and <br /> Ramsey Counties are hereby authorized and directed to prepare <br /> and furnish to the Purchaser, and to Dorsey & Whitney, the <br /> attorneys rendering an opinion as to the legality thereof, <br /> • certified copies of all proceedings and records relating to the <br /> Obligations and such other affidavits, certificates and <br /> information as may be required to show the facts relating to <br /> the legality and marketability of the Obligations, as the same <br /> appear from the books and records in their custody and control <br /> or as otherwise known to them, and all such certified copies, <br /> affidavits and certificates, including any heretofore <br /> furnished, shall be deemed representations of the Issuer as to <br /> the correctness of all statements contained therein. <br /> Section 8 . Tax Covenant . <br /> (a) The Issuer covenants and agrees with the <br /> registered owners from time to time of the Obligations that <br /> it will not take, or permit to be taken by any of its <br /> officers, employees or agents, any action which would cause <br /> the interest payable on the Obligations to become subject <br /> to taxation under the Internal Revenue Code of 1986, as <br /> amended (the Code) and applicable Treasury Regulations (the <br /> Regulations) ; and that it will take, or it will cause its <br /> officers, employees or agents to take, all actions which <br /> may be necessary to insure that such interest will not <br /> become subject to taxation under the Code, including, <br /> without limitation, compliance with Section 148 of the <br /> • <br /> -12- <br />