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• At the time the assessments are in fact levied the <br />City Council shall, based on the then current estimated col- <br />lections of such assessments, make any adjustments in any ad <br />valorem taxes required to be levied in order to assure that <br />the City continues to be in compliance frith Minnesota Statutes, <br />Section 475.61, Subdivision 3. Said special assessments <br />are such that if collected in full they, together with esti- <br />mated collections of other revenues pledged for the payment <br />of said bonds, will produce at least five percent in excess <br />of the amount needed to meet when due the principal and <br />interest. payments on the bonds. <br />10. For the prompt and full payment of the principal <br />of and interest on said bonds, as the same respectively become <br />due, the full faith, credit and taxing powers of.the City shall <br />be and are hereby irrevocably pledged. <br />11. The City Clerk is hereby directed to file a <br />certified copy of this resolution with the County Auditor <br />of Washington County, Minnesota, together with such other infor- <br />mation as he shall require, and to obtain from said Auditor <br />his certificate that said bonds have been entered in the said <br />Auditor's Bond Register. <br />12. The officers of the City are hereby author- <br />ized and directed to prepare and furnish to the purchaser <br />of said bonds, and to the attorneys approving the legality <br />of the issuance thereof, certified copies of all proceedings <br />and records of the City relating to said bonds and to the <br />financial condition and affairs of the City, and such other <br />affidavits, certificates and information as are required to <br />show the facts relating to the legality and marketability of <br />said bonds as the same appear from the books and records under <br />their custody and control or as otherwise known to them, and <br />all such certified copies, certificates and affidavits, in- <br />cluding any heretofore furnished, shall be deemed represen- <br />tations of the City as to the facts recited therein. <br />The motion for the adoption of the foregoing <br />resolution was duly seconded by member Schletty <br />and upon vote being taken thereon, the following voted in <br />favor thereof: Lease, Smith and Schletty <br />and the following voted against the same: none <br />Whereupon said resolution was declared duly <br />passed and adopted. <br />Im <br />