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under then applicable federal arbitrage regulations may be invested without regard to yield sha11 � not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investrnents after taking into account any applicable "temporary periods" or "minor portion"made available under the federal arbitrage regulations. Money in the Fund sha11 not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumenta.lity thereof if and to the extent that such investment would cause the Certificate to be "federally guaranteed" within the meaning of Section 149(b) of the Intemal Revenue Code of 1986, as amended(the "Code"). 9. Tax Levy; Covera e Test. To provide moneys for payment of the principal and interest on the Certificate there is hereby levied upon all of the taxable property in the City a direct annual ad valorem ta�c which sha11 be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Lew Year of Taac Collection Amount 2017 2018 $39,500 2018 2019 39,500 2019 2020 39,500 2020 2021 39,470 The t�levies are such that if collected in full they will produce at least five percent in excess of the amount needed to meet when due the principal and interest payments on the Certificate. The tax levies shall be irrepealable so long as the Certificate is outstanding and �-- unpaid,provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Sta.tutes, Section 475.61, Subdivision 3. 10. General Obligation Pled�. For the prompt and full payment of the principal and interest on the Certificate, as the same respectively become due,the full faith, credit and taxing powers of the City sha11 be and are hereby irrevocably pledged. If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Certificate and any other certificates payable therefrom,the deficiency sha11 be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein. 11. Certificate of Re�istration. The Administrator/Clerk is hereby directed to file a certified copy of this resolution with the County Auditor of Crow Wing County, Minnesota, together with such other information as the County Auditor shall require, and to obtain from the County Auditor a certificate that the Certificate has been entered in the County Auditor's Register and that the tax levy required by law has been made. 12. Records and Certificate. The officers of the City are hereby authorized and directed to prepaze and furnish to the Purchaser, and to the attorneys approving the legality of the issuance of the Certificate, certified copies of all proceedings and records of the City relating to the Certificate and to the fmancial condition and affairs of the City, and such other affidavits, � certificates and information as are required to show the facts relating to the legality and 9 8126692v1