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Section 7. Registration, Certification of Proceedings, Investment of 1Vlone, s, Arbitrage, Official Statement. 7.01. Registration. The City Clerk is hereby authorized and directed to file a certified copy of this resolution with the County Auditors of Hennepin and Ramsey Counties, together with such other information as the County Auditors shall require, and to obtain- from. each County Auditor a certificate that the Bonds have been entered on his bond register and that the tax required for. the payment thereof has been levied and filed as required by law. 7.02. Certification of Proceedings. The officers of the City and the County Auditors of Hennepin and Ramsey Counties .are hereby authorized and directed to prepare and furnish to the Purchaser,. and to Dorsey & Whitney LLP, Bond Counsel, certified copies of all proceedings and records of the City, and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of the Bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, including any heretofore furnished, shall be deemed representations of the City as to the facts recited therein. 7.03. Covenant. The City covenants and agrees with the holders from time to time of the Bonds that it will not take or permit to be taken by any of its officers, employees or agents any action which would cause the interest on the Bonds to become subject to taxation under the Internal Revenue Code of 1986, as amended (the Code), and Regulations promulgated thereunder (the Regulations), as such are enacted or promulgated and in effect on the date of issue of the Bonds, and covenants to take any and all actions within its powers to ensure that the interest on the Bonds will not become subject to taxation under such Code and Regulations. The Improvements and any other improvements financed pursuant to Section 5.01 will be owned and maintained by the City and available for use -by members of the general public on -a. substantially equal basis. The City shall not enter into any lease, use or other agreement with any non- governmental person relating to the use of such improvements or security for the payment of the Bonds which might cause the Bonds to be considered "private activity bonds" or "private loan bonds" within the meaning of Section 141 of the Code. 7.04. Arbitrage Rebate.. For purposes of complying with the requirements of Section 148(f)(4)(C) of the Code relating to the exemption of certain small governmental units from the rebate requirements of the Code, the City represents that: (i) the City is a governmental unit with general taxing powers; the Bonds are not and the Refunded Bonds were not "private activity bonds" as defined in Section 141 of the Code (Private- Activity Bonds); ninety-five percent of the net proceeds of the Bonds and the Refunded Bonds are to be or were used for the local governmental purposes of the City; and -16- 105 16- 105