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6. The City Finance Director shall obtain a copy of the <br />proposed approving legal opinion of bond counsel for the <br />Certificate, Briggs and Morgan, St. Paul, Minnesota, and shall <br />cause such opinion to be filed in the offices of the City. <br /> 7. The Certificate shall be executed on behalf of the City <br />by the manual signatures of the Mayor and the City Administrator <br />and'shall be duly registered by the manual signature of the City <br />Finance Director as Certificate Registrar. The official seal of <br />the City shall be impressed upon the Certificate. The Certificate, <br />when fully executed and sealed, shall be delivered by the City <br />Finance Director to the Purchaser upon receipt of the purchase <br />price thereof, and the Purchaser shall not be obligated to see to <br />the proper application thereof. <br /> 8. The proceeds of the Certificate shall be deposited in and <br />expended from a separate capital account or subaccount of the City <br />to provide financing for the Equipment. The City Finance Director <br />shall establish and maintain a separate debt service account or <br />subaccount (the "Debt Service Account") for the payment of the <br />Certificate. The Debt Service Account shall be maintained to pay <br />the debt service on the Certificate and any additional obligations <br />of the City which may hereafter be made payable therefrom. <br /> 9. The Debt Service Account shall be held in trust by the <br /> City for the benefit of the Registered Owner from time to time of <br /> the Certificate, as hereinafter provided. Until the principal of <br /> and interest on the Certificate are paid, or until the Certificate <br /> is otherwise discharged as hereinafter provided, there shall be <br /> credited to and maintained in the Debt Service Account (1) first, <br /> the proceeds of the general ad valorem taxes levied by the City for <br /> the purpose of paying the principal of and interest on the <br /> Certificate, including the payable 1999 tax levy of $40,000 made <br /> for that purpose; and (2) second, any other funds which are <br /> properly available and are appropriated by the Council to the Debt <br /> Service Account. The aforesaid funds, when deposited in the Debt <br /> Service Account, shall be used only and. exclusively for, and are <br /> hereby pledged to, the payment of the principal of and interest on <br /> the Certificate, when due, and such other obligations of the City <br /> as may be made payable therefrom. If any payment of principal or <br /> interest shall become due when there are not sufficient funds in <br /> the Debt Service Account to pay the same, the City Finance Director <br /> shall pay such principal or interest from the general fund or other <br /> available fund of the City, and such fund shall be reimbursed for <br /> such advances from the proceeds of the ad valorem taxes levied for <br /> such purpose, when collected. <br /> 10. The full faith and credit and taxing powers of the City <br /> are hereby pledged to the payment of the principal of and interest <br /> on the Certificate, and in the event of any current or anticipated <br /> deficiency of funds in the Debt Service Account of amounts needed <br /> to make any such payment, when due, the City Council shall levy ad <br /> <br />1095218.1 <br /> <br />6 <br /> <br /> <br />