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<br />. <br /> <br />. <br /> <br />. <br /> <br />proceedings and records of the City relating to the <br />transactions authorized by this resolution and such other <br />affidavits and certificates as may reasonably be required to <br />show the facts relating to the legality of the authorized <br />transactions as such facts appear from the officers' books and <br />records or are otherwise known to them. All such certified <br />copies, certificates, and affidavits, including any heretofore <br />furnished, shall be deemed representations of the City as to <br />the accuracy of all statements contained therein. <br /> <br />5.4) Arbitrage. <br /> <br />(01) The City covenants and agrees with Norwest, its <br />successors and assigns, that it will not take, or permit to <br />be taken, by any of its officers, employees, or agents, any <br />action which would cause the interest portion of the rental <br />obligations under the Lease and Purchase Option Agreement <br />to become subject to taxation under the Code; and that it <br />will take, or will cause its officers, employees, or agents <br />to take, all affirmative actions within its powers which <br />may be necessary to ensure that such interest portion will <br />not become subject to taxation under the Code. The Code as <br />used herein includes the Code and all regulations, amended <br />regulations and proposed regulations issued thereunder, as <br />now existing or as hereafter amended or proposed <br />(collectively the "Regulations"). The City will make <br />payments to the United States, if any, which are required <br />to be made by the provisions of paragraph (f) of Section <br />148 of the Code. <br /> <br />(02) The Mayor and the City Administrator, being officers <br />of the City charged with the responsibility for issuing the <br />Obligations pursuant to this resolution, are authorized and <br />directed to execute and deliver to Norwest a certification <br />in order to satisfy the provisions of Section 148 of the <br />Code and the Regulations. <br /> <br />The motion for the adoption of the foregoing resolutions <br />was duly seconded by Councilmember ~chuldt <br />The following voted in favor of adoption of such resolution: <br />Mayor Tralle, Councilmembers Schuldt, Kropuenske, Holmgren and Dobel <br /> <br />and the following voted against the adoption of the proposed <br />resolution: None <br /> <br />Whereupon, such resolution was declared duly adopted. <br /> <br />6. <br />