86-070 - Laserfiche WebLink

Home Browse Search

(c) The City will keep complete and accurate books and records relating to the Improvements showing all receipts and disbursements of grants, pledged funds, taxes, assessments, other funds appropriated for payment of the Bonds, and the balance of unpaid assessments. (d) The City will cause its books and records to be audited at least annually and will furnish copies of such audit reports to any interested person upon re- quest. 11. The tax levy herein provided (if any) shall be irrepealable until all of the Bonds are paid, provided that the City Finance Director/City Clerk may annually, prior to October 10th, certify to the Ramsey County Director of Prop- erty Taxation the amount available in the Debt Service Fund to pay pr incipal and interest due on the Bonds dur ing the ensuing year, and the Ramsey County Director of property Taxation shall thereupon reduce the levy collectible during such year by the amount so certified. All collections received by the City of any ad valorem taxes levied or required to be levied by this Resolution shall be deposited in the Debt Service Fund and shall, when and as received, be irrevocably pledged to the payment of the principal of and interest on the Bonds. 12. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceed- ings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and to furnish such other certificates, affidavits, and transcripts as may be required to show facts within their knowledge or as shown by the books and records in their custody and under their control relating to the validity and marketability of the Bonds, and such instruments, including any heretofore furnished, shall be deemed representations of the City as to the facts stated therein. .13. The Mayor, the Ci ty Manager and the City Finance Director/City Clerk are hereby authorized to certify that they have examined the offical statement or prospectus pre- pared and circulated in connection with the issuance and sale of the Bonds and that to the best of their knowledge and belief said official statement is a complete and accurate representation of the facts and representations made therein as they relate to the City. 14. The City covenants and agrees with the Registered OWners from time to time of the Bonds that the City will not take or permit to be taken by any of its officers, - 12