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New Bonds delivered upon any transfer or exchange shall be valid obligations of the <br /> <br />City, evidencing the same debt as the Bonds surrendered, shall be secured by this Resolution and <br /> <br />entitled to all of the security and benefits hereof to the same extent as the Bonds surrendered. <br /> <br /> 10. Charges for Exchange or Transfer. No charge shall be made for any exchange or <br /> <br />transfer of Bonds, but the City may require payment by the registered owner of any Bond of a <br /> <br />sum sufficient to cover any tax or other governmental charge which may be imposed with <br /> <br />respect to the transfer or exchange of such Bond. <br /> <br /> 11. Non-Arbitrage Certificate and Tax Covenants. The City Manager and the Chief <br /> <br /> Financial Officer, or either of them, are authorized and directed to execute a Non-Arbitrage <br /> <br /> Certificate and Tax Covenants setting forth the expected use and investment of the proceeds of <br /> <br /> the Bonds and containing such covenants as may be necessary in order to comply with the <br /> <br /> provisions of the Code, including the provisions of Section 148 of the Code and applicable <br /> <br /> regulations relating to "arbitrage bonds." The City Council covenants on behalf of the City that <br /> <br /> all of such proceeds will be invested and expended as set forth in the City's Non-Arbitrage <br /> <br /> Certificate and Tax Covenants and that the City will comply with the other covenants and <br /> <br /> representations contained therein. <br /> <br /> 12. Disclosure Documents. The Chief Financial Officer and the City Manager, or <br /> <br /> either of them, and such officers and agents of the City as either of them may designate are <br /> <br /> hereby authorized and directed to prepare, execute, if required, and deliver a preliminary official <br /> <br /> statement, official statement or such other offering or disclosure documents as may be necessary <br /> <br /> to expedite the sale of the Bonds. The preliminary official statement, official statement or other <br /> <br /> documents shall be published in such publications and distributed in such manner and at such <br /> <br /> times as the Chief Financial Officer shall determine. The Chief Financial Officer is authorized <br /> <br /> <br />