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. . . Section 5. Miscellaneous. 5.01. Covenant With Respect to Changes in Federal Tax Legislation. In the event that subsequent to the adoption of this resolution, changes are enacted in the provisions of federal law relating to the exclusion of interest payable on the Bonds from gross income for federal income tax purposes and such changes are applicable to the Bonds, the City hereby covenants to use its best efforts to take action to meet such changed requirements and restrictions to the extent that such action is consistent with the proceedings authorizing issuance and sale of the Bonds and applicable laws of the State of Minnesota and to the extent that there is a reasonable period of time in which to take such action. 5.02. Qualified Tax Exempt Obligations. For purposes of Section 802 of the proposed Tax Reform Act of 1985 (H.R. 3838), the Bonds are hereby designated as "qualified tax exempt obligations." The Issuer represents and covenants that it does not reasonably anticipate issuing bonds which would constitute bonds within the definition of qualified tax exempt obligations in an aggregate amount greater than $10,000,000 in 1986 and the Bonds are not part of one or more issues with a common purpose, the aggregate amount of which exceeds $3,000,000. 5.03. County Auditor Registration. The Clerk is directed to file with the County Auditor of Sherburne County a certified copy of this resolution, and obtain from the County Auditor a certificate stating that the Bonds have been entered upon his bond register and that the tax required by law has been levied. 5.04. Authentication of Transcript. The officers of the Issuer and said County Auditor are authorized and directed to prepare and furnish to the purchasers of the Bonds, and to bond counsel, certified copies of all proceedings and records of the Issuer relating to the authorization and issuance of the Bonds and such other affidavits and certificates as may reasonably be required to show the facts relating to the legality and marketability of the Bonds as such facts appear from the officers' books and records or are otherwise known to them. All such certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed representations of the Issuer as to the correctness of all statements contained therein. 5.05. Arbitrage. (a) The Issuer covenants and agrees with the holders from time to time of the Bonds herein authorized that it will not take, or permit to be taken, by any of its officers, employees, or agents, any action which would cause the interest payable on the Bonds to become subject to taxation under 16.