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.. .. .,. 6. The City Clerk shall obtain a copy of the approving legal opinion of O'Connor & H~nnan, bond counsel, which opinion shall be complete except for the dating thereof, and shall cause such opinion to be filed in the City offices. 7. 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 shall 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 delivered by the City Finance Director to the Purchaser upon receipt of the purchase price, and the Purchaser shall not be obligated to see to the proper application thereof. 8. As provided in Resolution No. 2657, adopted by the City Council on April 26, 1982, authorizing the issuance of the City's $150,000 General Obligation Tax Increment Bond of 1982 (the "1982 Bond"), the City Council established the City's Tax Increment~ District No. 4 Account and provided that all Tax Increments received with respect to Tax Incre- ment District No. 4 shall be segregated into said Account. In the aforesaid Resolution, the City also made a pledge of certain Tax Increments to and for the timely payment of the principal of and interest on the 1982 Bond. All of the Tax Increments not so pledged shall hereinafter be referred to as Available Tax Increments. within the Tax Increment District No. 4 Account there is hereby created a subaccount designated as Tax Increment District No. 4 Debt Service Account - $65,000 G.O. Tax Increment Bond of 1983 (the "Debt Service Account") which shall be held in trust by the City for the benef i t of the Reg istered Holder of the Bond,. as hereinafter provided. Until the principal installments' of and interest on the Bond are paid, or until all of the installment payments of the Bond "are otherwise discharged in accordance with paragraph 11 below, there shall be credited to and maintained in the Debt Service Account (a) the three monthly payments of rent requ ired to be pa id to the City under that certain lease entitled "Lease By and Between the City of New Brighton and SR Building Company" on October 1, November 1, and December 1, 1984, respectively (the "Lease Revenues"), provided that no more than twenty-five percent (25%) of the total debt service to be paid by the City on the Bond Shall be derived from the Lease Revenues, and (b) Available Tax Increments in amounts which, together with the Lease Revenues, are sufficient to pay, when due, the princi- pal of and interest on the Bond and (c) the proceeds of any general ad valorem taxes hereafter levied by the City for the purpose of paying the principal of and interest on the Bond. The aforesaid funds in the Debt Service Account shall be used only and exclusively for, and are hereby pledged to, - 8 -