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. . . Section 6. Tax Pledqe. 6.1) No general tax levy 1S required at this time for payment of the Bonds. The Bonds are payable from tax increments generated by Tax Increment Financing District No. 3 in excess of such tax increments pledged to the extent necessary to pay the principal of and interest on the City's Eight Hundred Fifty Thousand Dollar ($850,000) General Obligation Tax Increment Bonds, Series 1985A (the Excess Tax Increments). The Excess Tax Increments and other funds herein pledged for the payment of the Bonds will produce at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Bonds, as shown in the Increment Income Estimate attached hereto as Exhibit C. 6.2) The City recognizes and affirms the pledge of the full faith and credit of the City to the payment of the Bond. In the event that the Excess Tax Increments, and the other funds pledged to the payment of the Bond do not prove sufficient to pay principal and interest on the Bond, the City will promptly levy additional taxes as necessary for such payment without limitation as to rate or amount. Section 7. Defeasance. The City may at any time discharge its obligations with respect to the Bond, subject to the terms of this Resolution and the provisions of law now or hereafter authorizing and regulating such action. When all principal of the Bond has been discharged as provided in this Resolution, all pledges, covenants and other rights granted by this Resolution to the holder of the Bond shall cease. Section 8. County Auditor Reqistration. The City Clerk- Administrator is hereby authorized and directed to file a certified copy of this Resolution with the County Auditor of Sherburne County, together with such additional information as the County Auditor shall require, and to obtain from the County Auditor a certification that the Bonds have been duly entered upon his Bond Register. Section 9. Authentication of Transcript. The officers of the City and the County Auditor are hereby authorized and directed to prepare and furnish to the purchaser of the Bond, and to the attorneys approving the legality thereof, certified copies of all proceedings and records relating to the Bond and such other affidavits, certificates and information as may be required to show the facts relating to the legality and marketability of the Bond, as the same may appear from the books and records in their custody and control or as otherwise known to them, and all such certified copies, affidavits and certificates, including any heretofore furnished, shall be deemed representations of the City as to the correctness of all statements contained therein. 4.