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Section 6. Registration, Certification of Proceedings, Investment of <br /> Moneys, Arbitrage, Interest Disallowance and Official Statement. <br /> 6.01. Registration. The City Clerk is hereby authorized and directed to <br /> file a certified copy of this resolution with the County Auditors of Hennepin and <br /> Ramsey Counties, together with such other information as they shall require, and to <br /> obtain from each of such County Auditors a certificate that the Bonds have been <br /> entered on upon such Auditor's register as required by law. <br /> 6.02. Certification of Proceedings. The officers of the City and the <br /> County Auditors of Hennepin and Ramsey Counties are hereby authorized and <br /> directed to prepare and furnish to the Purchaser, and to Dorsey & Whitney, Bond <br /> Counsel, certified copies of all proceedings and records of the City, and such other <br /> affidavits, certificates and information as may be required to show the facts relating <br /> to the legality and marketability of the Bonds as the same appear from the books and <br /> records under their custody and control or as otherwise known to them, and all <br /> such certified copies, certificates and affidavits, including any heretofore furnished, <br /> shall be deemed representations of the City as to the facts recited therein. <br /> 6.03. Covenant. The City covenants and agrees with the holders from <br /> time to time of the Bonds that it will not take or permit to be taken by any of its <br /> officers, employees or agents any action which would cause the interest on the <br /> Bonds to become subject to taxation under the Code and the Regulations <br /> • promulgated thereunder (the Regulations), as such are enacted or promulgated and <br /> in effect on the date of issue of the Bonds, and covenants to take any and all actions <br /> within its powers to ensure that the interest on the Bonds will not become subject to <br /> taxation under such Code and Regulations. <br /> 6.04. Arbitrage. The Mayor and City Manager being the officers of the <br /> City charged with the responsibility for issuing the Bonds pursuant to this <br /> resolution, are authorized and directed to execute and deliver to the Purchaser a <br /> certificate in accordance with the provisions of Section 148 of the Code, and Sections <br /> 1.148 of the Regulations, stating the facts, estimates and circumstances in existence <br /> on the date of issue and delivery of the Bonds which make it reasonable to expect <br /> that the proceeds of the Bonds will not be used in a manner that would cause the <br /> Bonds to be arbitrage bonds within the meaning of said Code and Regulations. <br /> The City acknowledges that the Bonds are subject to the rebate <br /> requirements of Section 148(f) of the Code. The City covenants and agrees to retain <br /> such records, make such determinations, file such reports and documents and pay <br /> such amounts at such times as are required under said Section 148(f) and applicable <br /> Regulations to preserve the exclusion of interest on the Bonds from gross income <br /> for federal income tax purposes, unless the Bonds qualify for the exception from the <br /> rebate requirement under Section 148(f)(4)(C) of the Code and no "gross proceeds" of <br /> • -13- <br />