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7. The City Clerk-Treasurer shall obtain a copy of the approving legal opinion of O'Connor & Hannan, bond counsel, which opinion shall be complete except for the dating thereof, and shall cause such opinion to be filed in the City offices. 8. The Bond shall be prepared under the direction of the City Clerk-Treasurer and shall be executed on behalf of the City by the manual signatures of the Mayor and the City Manager: the corporate seal of the City may but need not be affixed to the Bond: and the Clerk-Treasurer shall register the Bond in the name of the Purchaser on the City books kept for such purposes. The Bond when so executed shall be de- livered by the Ci ty Clerk-Treasurer to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obligated to see to the proper application thereof. 9. In accordance with Minnesota Statutes, Section 273.76, Subdivision 5, the tax increments received with respect to the City's Tax Increment Financing District Nos. 4 and 5 have been segregated by the Ci ty into special accounts on the official books and records of the City, which accounts are designated Tax Increment Financing Dis- trict No. 4 Account and Tax Increment Financing District No. 5 Account, respectively. Wi thin Tax Increment Financing District No. 5 Account there is hereby created a subaccount designated as $300,000 General Obligation Temporary Tax Increment Bond of 1984 Debt Service Account (the "Debt Ser- vice Account"), which shall be held in trust by the City for the benefit of the owner(s) from time to time of the Bond, as hereinafter provided. Until the principal of and inter- est on the Bond are paid, or until the Bond is otherwise discharged as hereinafter provided, the following funds are hereby pledged to the payment of the principal of and inter- est on the Bond, when due, and the same shall be deposited into the Debt Service Account at the times and in the amounts required to make such prompt and full payment thereof: (a) Th'e $25,000 of the proceeds of the Bond repre- senting capitalized interest thereon: and (b) The tax increments, to the extent not heretofore pledged by the Ci ty for other purposes, der i ved from the Ci ty' 5 Tax Increment Financing Distr ict No.5, equal to the lesser of (i) all such avail- able tax increments and (ii) the amounts of such available tax increments which are sufficient to meet, when due, the principal and interest payments on the Bond: provided, however, that the $25,000 of capitalized interest referenced above shall be used to pay the interest first coming due on the Bond, - 7 -