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. . . the amount available in the Debt Service Fund to pay principal and interest due during the ensuing year, and the Director of Property Records and Revenue will thereupon reduce the levy collectible during such year by the amount so certified. 4.04. The City Manager is directed to file a certified copy of this Resolution with the Director of Property Records and Revenue of Ramsey County and obtain the certificate required by Minnesota Statutes, Section 475.63. Section 5. Authentication of Transcript. 5.01, The officers of the City are authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Notes, certified copies of proceedings and records of the City relating to the Notes and to the financial condition and affairs of the City, and such other certificates, affidavits and transcripts as may be required to show the 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 Notes, and such instruments, including any heretofore furnished, will be deemed representations of the City as to the facts stated therein, 5.02. It is determined that no comprehensive Official Statement or offering material has been prepared or circulated by the City in connection with the sale of the Notes and that the City is relying on the investment representation of the Owner in investment letters of even date now on file with the City Manager. Section 6. Continuing Disclosure. 6.01. The continuing disclosure requirements of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the "Rule") do not apply to the Notes, because the offering of the Notes is in authorized denominations of $100,000 or more, and the provisions of Section 15c2-12(d)(I)(i) are satisfied. Consequently, the City will not enter into any undertaking to provide continuing disclosure of any kind with respect to the Notes, . Section 7. Defeasance. 7.01. When all Notes and all interest thereon, have been discharged as provided in this section, all pledges, covenants and other rights granted by this resolution to the holders of the Notes will cease, except that the pledge of the full faith and credit of the City for the prompt and full payment of the principal of and interest on the Notes will remain in full force and effect. The City may discharge all Notes which are due on any date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof in full. If any Note should not be paid when due, it may nevertheless be discharged by depositing with the Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such deposit. 302227v3 S18 NE136-163 12