2.3a ERMUSR 06-08-2021 - Laserfiche WebLink

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payments with respect to principal of,premium, if any, and interest on the Bond and noticeswith respect to the Bond will be made and given, respectively in the manner provi Operational Arrangements, asset forth in the Representation Letter. Section 8. Continuing Disclosure.With respect to the continuing disclosurerequirements under Rule 15c2-d Exchange Commission, onthe date of actual issuance and deliveryof theBonds, the Commission and the City will execute and deliver a Continuing Disclosure Certificate(der the Commission and the City will covenant to provide certain information specified in the Undertaking. The proposed formof the Undertaking which has been submitted to the Commissionfor itsconsideration is hereby approved, and the President and Secretary of the Commission and the Mayor and Clerk of the City, or any other officer ofthe Commission or the City authorized toact in their place (the ffiare hereby authorized to execute and deliver that Undertaking in theproposed form or in such final form thereof reflecting such modifications thereof as are consistent with the Rule, requested by the Purchasersof the Bonds and acceptable to theOfficerswho shall execute the Undertaking (which consent shall be conclusively evidenced by their execution anddelivery thereof). TheUndertaking, as so executed and delivered by the Officers, shall be asmuch a part of this Resolution as if set forth infull herein and shall be for the benefit of the owners from time to time of the Bonds. Section 9. Defeasance. When the Bondsand 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 Bondswill 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 Bondswill remain in full force and effect. The City may discharge Bondswhich are due on any date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof in full or by depositing irrevocably in escrow, witha suitable institution qualified by lawas an escrow agent for this purpose, cash or securities which are backed by the full faith and credit of the United States of America, or any other security authorized under Minnesota law for such purpose, bearing interest payable at such times and at such rates and maturing on such dates and insuch amounts as shall be required and sufficient, subject to sale and/or reinvestment in like securities, to pay said obligation(s), which may include any interest payment onsuch Bond and/or principal amount due thereon at a stated maturity (or if irrevocable provision shall have been made for permitted prior redemption of such principal amount, at such earlier redemption date). If any Bondshould not be paid when due, it maynevertheless 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. EL185-69-713323.v2 13 48