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59 <br />regulation or a change in the identity, nature or status of the City or the type of operations <br />conducted by the City, or (b) is required by, or better complies with, the provisions of paragraph <br />(b)(5) of the Rule; (ii) this Section 6 as so amended or supplemented would have complied with <br />the requirements of paragraph (b)(5) of the Rule at the time of the primary offering of the Bonds, <br />giving effect to any change in circumstances applicable under clause (i)(a) and assuming that the <br />Rule as in effect and interpreted at the time of the amendment or supplement was in effect at the <br />time of the primary offering; and (iii) such amendment or supplement does not materially impair <br />the interests of the Bondowners under the Rule. <br />If the Disclosure Information is so amended, the City agrees to provide, <br />contemporaneously with the effectiveness of such amendment, an explanation of the reasons fol <br />the amendment and the effect, if any, of the change in the type of financial information or <br />operating data being provided hereunder. <br />(3) This Section 6 is entered into to comply with the continuing disclosure <br />provisions of the Rule and should be construed so as to satisfy the requirements of paragraph <br />(b)(5) of the Rule. <br />Section 7. Authorization of Payment of Certain Costs of Issuance of the Bonds. <br />The City authorizes the Purchaser to forward the amount of Bond proceeds allocable to the <br />payment of issuance expenses to Klein Bank, on the closing date for further distribution as <br />directed by the City's financial advisor, Ehlers & Associates, Inc. <br />Section 8. Redemption of Refunded Bonds. The City Manager is hereby directed <br />to advise Wells Fargo Bank, National Association, Minneapolis, Minnesota, as paying agent for <br />the Refunded Bonds, to call such bonds for redemption and prepayment on the Redemption Date <br />and the Crossover Dates, respectively, and to give thirty days mailed Notice of Redemption, all <br />in accordance with the provisions of the resolutions authorizing the issuance of such bonds. <br />-23- <br />