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2001 <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012 <br />Said levy shall be iirepealable and the taxes so levied are irrevocably appropriated to the debt <br />service fund, but the City reserves the right to reduce said levy in the manner and to the extent <br />permitted by Minnesota Statutes, Section 475.61. <br />It is hereby found and determined that the foregoing taxes, if collected in full, <br />will, together with the estimated collection of pledged special assessments, produce at least five <br />percent in excess of the amount needed to meet when due the payments of principal and <br />interest on the Bonds; but the Bonds are general obligations of the City to which the full faith, <br />credit and unlimited taxing powers of thi^ City have been and are hereby pledged; and the City <br />Council shall levy general ad valorem taxes on all taxable property in the City, if necessary, to <br />pay the principal of and interest on the Bonds when due. <br />13. The City Clerk is authorized and directed to prepare and furnish to the <br />purchaser and to the attorneys approving the Bonds, certified copies of all proceedings and <br />records relating to the issuance of said General Obligation Improvement Bonds, Series 1997 <br />and to the right, power and authority of the City and its officers to issue the same, and said <br />certified copies and certificates shall be deemed the representations of the City as to alJ matters <br />stated therein. <br />14. The Official Statement relating to the Bonds, on file with the Clerk and <br />presented to this meeting, is hereby approved and its designation as a “near final” Official <br />Statement for purposes of Rule 15c2-12 of the Securities and Exchange Commission and the <br />furnishing thereof to prospective purchasers of the Bonds are hereby ratified and confirmed, <br />insofar as the same relates to the Bonds and the sale thereof. The Continuing Disclosure <br />Certificate included in the Official Statement is hereby approved and shall be executed and <br />delivered in connection with the delivery of the Bonds. The Continuing Disclosure Certificate <br />constitutes a contractual obligation in accordance with its terms. <br />15. The officers of the City are hereby authorized and directed to prepare and <br />furnish to the Secretary of the Treasury a statement meeting the information reporting <br />-14- <br />I ?