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4. Except as amended in and pursuant to this Resolu- tion, the 1982 Bond Resolution, the 1983 Bond Resolution, and the 1984 Bond Resolution shall remain in full force and effect. 5. The Ci ty Finance Oi rector shall obtain a copy of the approving legal opinion of O'Connor & Hannan, Bond Coun- sel, with respect to the foregoing amendments of the Origi- nal Bonds and shall cause such opinion to be filed in the City offices and delivered to the Bank on June 1, 1987. The City Finance Director shall also file a certified copy of this Resolution with the Ramsey County Director of Property Taxation and shall obtain said officer's certificate of registration pursuant to Minnesota Statutes, Section 475.61, Subdivision 2. 6. On June 1, 1987, the Ci ty Finance Director shall also deliver to the Bank, upon surrender by the Bank of the executed originals of the 1982 Bond, the 1983 Bond, and the 1984 Bond, typewritten replacement Bonds therefor, which shall respectively be in the forms which are attached to and made a part of this Resolution as Exhibits, A, B, and C and which shall be executed on behalf of the City by the manual signatures of the Mayor and City Manager, which shall bear the corporate seal of the City, and which shall bear the registration of each such replacement Bond in the name of the Bank, which registration shall be manually executed by the City Finance Director, acting as the City Clerk- Treasurer. Upon such transfer, the Ci ty Finance Di rector shall destroy the Bonds so surrendered by the Bank. 7. The City hereby covenants and agrees with the reg- istered owners from time to time of" the Amended Bonds (a) that the city will not take or permit to be taken by any of its officers, employees, or agents any actions which would cause the interest on the Amended Bonds to become generally subject to income taxation under the Internal Revenue Code of 1986 and regulations issued thereunder (the "Code"), as now existing or as hereafter amended or proposed and in effect at the time of such action, and (b) that it will take or cause to be taken all affirmative actions within its power which may be necessary to ensure that such interest will not become generally subject to income taxation under the Code. 8. The City Council hereby designates the Amended 1984 Bond as a "qualified tax-exempt obligation" within the mean- ing of Section 265(b)(3) of the Code. The City Council reasonably estimates that the aggregate principal amount of all such tax-exempt obligations issued or to be issued in calendar year 1987 by the City does not and will not exceed $10,000,000. - 4 -