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<br /> -~ .. <br /> -- 't H <br /> '. <br /> . <br /> .. " <br /> . <br /> . <br /> 5. For the purpose of paying the principal installments of <br /> and interest on said Certificate as such installments and <br /> interest respectively become due, there is hereby levied a direct <br /> annual ad valorem tax upon all of the taxable property in the city <br /> for the years and in the amount as follows: <br /> Year Amount <br /> 1975 $23,471.16 <br /> 1976 $20,608.88 <br /> 6. Such tax shall be irrepealable as long as this Certificate' <br /> of Indebtedness is outstanding and unpaid; provided that the city <br /> reserves the right to reduce the levies in the manner and to the <br /> extent permitted by Minnesota Statutes 475.61. <br /> 7. Said taxes shall be extended upon the tax rolls for the <br /> . above years, shall be collected in the respective ensuing years <br /> with and as part of other general taxes levied in and for the <br /> city, and the proceeds thereof, when and so eollected shall be <br /> placed in a sinking fund which has been created for Certificates <br /> of Indebtedness, and shall be used for no other purpose than to <br /> pay the principal and interest of said Certificate when and as the <br /> same become due, except that in case any payment of principal or <br /> interest shall fall due on said certificate when there is not <br /> sufficient money in said fund to pay the same, that such principal <br /> or interest shall be paid out of any funds of the city available <br /> therefore, and such funds shall be reimbursed for such advances <br /> out of said levies when collected. <br /> 8. The city Clerk is, ,hereby authorized and directed, prior <br /> to delivery of said Certificate, to file in the office of the <br /> Department of Property Taxation of Ramsey County, a certified copy <br /> of this resolution and to obtain from said Department of Property <br /> Taxation a certificate that the Certificate herein authorized has <br /> been entered on this register of municipal obligations. <br /> 9. The officers of the City are hereby authorized and <br /> directed to prepare and furnish to the purchaser of s.aid <br /> Certifi~ate and to the attorneys approving the legality of the <br /> issuance thereof, certified copies of all proceedings and records <br /> of the city relating to said Certificate and to the financial <br />