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3. Details and Sale of the 2001 Notes. The City Manager and the Chief Financial Officer of the City, or either of them, are authorized and directed to provide for the issuance and sale of the 2001 Notes in exchange for the 2000 Notes or to such other purchaser of the 2001 Notes as such officer or officers may determine, upon the terms and conditions as such officers, or either of them, may approve; provided that the final maturity of the 2001 Notes shall be not more than one year from their date and the 2001 Notes shall bear interest at an annual rate not in excess of 6%. The form of the 2001 Notes attached to this resolution as Exhibit A is hereby approved, ratified and confirmed by the Council. 4. Tax Covenant. The City covenants that it shall comply with the provisions of Sections 103 and 141-150 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder, applicable to the 2001 Notes, throughout the term of the 2001 Notes. 5. Appointment of Registrar. The Chief Financial Officer shall serve as Registrar for the 2001 Notes. 6. Execution of 2001 Notes. The City Manager is authorized and directed to execute and deliver the 2001 Notes to the purchaser thereof upon payment of the purchase price (or in exchange for the 2000 Notes) and the City Clerk is authorized and directed to affix the seal of the City thereto and to attest the same. The manner of execution and affixation of the seal may be by facsimile, provided, however, that if all of the signatures are by facsimile, the 2001 Notes shall not be valid until signed at the foot thereof by the manual signature of the Registrar.