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of other authorized denominations. Upon such transfer or exchange, the City will <br /> cause a new Bond or Bonds to be issued in the name of the transferee or registered <br /> owner, of the same aggregate principal amount, bearing interest at the same rate and <br /> maturing on the same date, subject to reimbursement for any tax, fee or <br /> governmental charge required to be paid with respect to such transfer or exchange. <br /> The City and the Bond Registrar may deem and treat the person in <br /> whose name this Bond is registered as the absolute owner hereof, whether this <br /> Bond is overdue or not, for the purpose of receiving payment and for all other <br /> purposes, and neither the City nor the Bond Registrar shall be affected by any notice <br /> to the contrary. <br /> IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED <br /> that all acts, conditions and things required by the Constitution and laws of the State <br /> of Minnesota to be done, to exist, to happen and to be performed precedent to and in <br /> the issuance of this Bond in order to make it a valid and binding general obligation <br /> of the City according to its terms have been done, do exist, have happened and have <br /> been performed as so required; that prior to the issuance hereof the City has pledged <br /> and appropriated to a sinking fund established for the payment of the Bonds tax <br /> increments to be derived by the City from the Districts; that, if necessary for the <br /> payment of principal and interest on the Bonds, ad valorem taxes are required to be <br /> levied upon all taxable property in the City, which levy is not limited as to rate or <br /> amount; and that the issuance of this Bond does not cause the indebtedness of the <br /> City to exceed any constitutional or statutory limitation. <br /> This Bond shall not be valid or become obligatory for any purpose or be <br /> entitled to any security or benefit under the Resolution until the Certificate of <br /> Authentication hereon shall have been executed by the Bond Registrar by manual <br /> signature of the Bond Registrar, or in the event the City Clerk is no longer acting as <br /> Bond Registrar, by one of the authorized representatives of the Bond Registrar. <br /> IN WITNESS WHEREOF, the City of Falcon Heights, Ramsey County, <br /> State of Minnesota, by its City Council, has caused this Bond to be executed by the <br /> signatures of the Mayor and the City Clerk and sealed with the official seal of the <br /> City and has caused this Bond to be dated as of the date set forth below. <br /> Date of Authentication: <br /> City Clerk Mayor <br /> (SEAL) <br /> -5- <br />