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required to be paid with respect to such transfer or exchange. All Bonds surrendered for transfer • or exchange pursuant to this Paragraph 4 shall be cancelled. 5. The full faith and credit of the City shall be and is irrevocably pledged to the punctual payment of the principal of and premium, if any, and interest on the Bonds as the same become due. In each year while the Bonds, or any of them, are outstanding and unpaid, the Council is authorized and required to levy and collect annually, at the same time and in the same manner as other taxes of the City are assessed, levied and collected, a tax upon all taxable property within the City, over and above all other taxes, authorized or limited by law and without limitation as to rate or amount, sufficient to pay when due the principal of and premium, if any, and interest on the Bonds to the extent other funds of the City are not lawfully available and appropriated for such purpose. • 6. CUSIP identification numbers may be printed on the Bonds, but no such number shall constitute a part of the contract evidenced by the particular Bonds upon which it is printed and no liability shall attach to the City or any officer or agent thereof (including any paying agent for the Bonds) by reason of such numbers or any use made thereof (including any use thereof made by the City, any such officer or any such agent) or by reason of any inaccuracy, error or omission with respect thereto or in such use. All expenses in relation to the printing of such numbers on the Bonds shall be paid by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility of and shall be paid for by the purchaser of the Bonds. • 7. The City covenants and agrees to comply with the provisions of Sections 103 and 141-150 of the Internal Revenue Code of 1986 and the Treasury Regulations promulgated under such Sections 103 and 141-150 throughout the term of the Bonds. F -I L 8. The proceeds of the sale of the General Obligation Public Improvement Bonds shall be applied to the payment of the cost of the following public improvement projects of and for the City in substantially the following respective amounts: Prolects Amounts Schools $ 8,500,000 Courts 4,000,000 Parks and Downtown Mall 1,500,000 Public Safety 2,500,000 Comprehensive Plan Implementation 500,000 $17,000,000 If any project set forth above shall require less than the entire respective amount so set forth, the difference may be applied to any of the other projects so set forth. 9. (a) There is hereby delegated to the City Manager authority, without further action by the Council, to sell the Bonds authorized for issuance under this resolution in accordance with the provisions hereof at competitive sale at such price as shall be determined by M 461132.3 027341 RES