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Year of Tax Year of Tax <br />Levy Collection Amount <br />1988 <br />1989 <br />1989 <br />1990 <br />1990 <br />1991 <br />1991 <br />1992 <br />The tax levies are such that if collected in full <br />they, together with estimated collections of other revenues <br />herein pledged for the payment of the Certificates, will <br />produce at least five percent (5%) in excess of the amount <br />needed to meet when due the principal and interest payments on <br />the Certificates. The tax levies shall be irrepealable so <br />long as any of the Certificates are outstanding and unpaid, <br />provided that the City reserves the right and power to reduce <br />the levies in the manner and to the extent permitted by <br />Minnesota Statutes, Section 475.61, Subdivision 3. <br />17. General Obligation Pledge. For the prompt and <br />full payment of the principal of and interest on the <br />Certificates, as the same respectively become due, the full <br />faith and credit and taxing powers of the City shall be and <br />are hereby irrevocably pledged. If the balance in the Debt <br />Service Account is ever insufficient to pay all principal and <br />interest then due on the Certificates and any other <br />Certificates payable therefrom, the deficiency shall be <br />promptly paid out of any other funds of the City which are <br />available for such purpose, and such other funds may be <br />reimbursed with or without interest from the Debt Service <br />Account when a sufficient balance is available therein. <br />18. Certificate of Registration. The City Clerk - <br />Treasurer is hereby directed to file a certified copy of this <br />resolution with the County Auditor of Washington County, <br />Minnesota, together with such other information as the Auditor <br />shall require, and to obtain the Auditor's certificate that <br />the Certificates have been entered in the Auditor's <br />Certificate Register, and that the tax levy required by law <br />has been made. <br />19. Records and Certificates. The officers of the <br />City are hereby authorized and directed to prepare and <br />furnish to the Purchaser, and to the attorneys approving the <br />legality of the issuance of the Certificates, certified copies <br />of all proceedings and records of the City relating to the <br />Certificates and to the financial condition and affairs of the <br />City, and such other affidavits, certificates and information <br />16 <br />