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• Section 8. County Auditor Registration, Certification of Proceedings, <br /> Investment of Moneys, Arbitrage, Designation of Bonds as Qualified Tax Exempt <br /> Obligations and Official Statement. <br /> 8.01. County Auditor Registration. The City Clerk is hereby authorized <br /> and directed to file a certified copy of this resolution with the County Auditors of <br /> Hennepin and Ramsey Counties, together with such other information as the <br /> County Auditors shall require, and to obtain from said County Auditors certificates <br /> that the Bonds have been entered on his bond register as required by law. <br /> 8.02. 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 of the Bonds and to Dorsey & <br /> Whitney LLP, Bond Counsel, certified copies of all proceedings and records of the <br /> City, and such other affidavits, certificates and information as may be required to <br /> show the facts relating to the legality and marketability of the Bonds as the same <br /> appear from the books and records under their custody and control or as otherwise <br /> known to them, and all such certified copies, certificates and affidavits, including <br /> any heretofore furnished, shall be deemed representations of the City as to the facts <br /> recited therein. <br /> 8.03. Tax Covenant. The City covenants and agrees with the holders <br /> from time to time of the Bonds that they will not take or permit to be taken by any <br /> of their officers, employees or agents any action which would cause the interest on <br /> the Bonds to become subject to taxation under the Internal Revenue Code of 1986, as <br /> amended (the Code), and the Treasury Regulations promulgated thereunder (the <br /> Regulations), and covenants to take any and all actions within their powers to <br /> ensure that the interest on the Bonds will not become subject to taxation under the <br /> Code and the Regulations. The City will cause to be filed with the Secretary of <br /> Treasury an information reporting statement in the form and at the time prescribed <br /> by the Code. The City represents and covenants that the City is and will be the <br /> owner of all facilities financed by the Bonds and will use such facilities to conduct its <br /> municipal liquor business. so long as any Bonds are outstanding, the City will not <br /> enter into any lease, or any operating, use, management or other agreement <br /> respecting said facilities which would cause the Bonds to be considered "private <br /> activity Bonds" or "private loan bonds" pursuant to Section 141 of the Code. <br /> 8.04. Arbitrage Certification. The Mayor and City Manager, being the <br /> officers of the City charged with the responsibility for issuing the Bonds pursuant to <br /> this resolution, are authorized and directed to execute and deliver to the purchaser <br /> thereof a certificate in accordance with the provisions of Section 148 of the Code, and <br /> the applicable 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 /> • <br /> -21- <br />