07/24/2006 Council Packet - Laserfiche WebLink

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• • The Registrar will not effect transfer of this Bond unless the information concerning the assignee requested below is provided. Name and Address: (Include information for all joint owners if this Bond is held by joint account.) Please insert social security or other identifying number of assignee PROVISIONS AS TO REGISTRATION The ownership of the principal of and interest on the within Bond has been registered on the books of the Registrar in the name of the person last noted below. Date of Registration Signature of Registered Owner Officer of Registrar Cede & Co. Federal ID #13- 2555119 3.02. The City Administrator will obtain a copy of the proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis, Minnesota, which will be complete except as to dating thereof and will cause the opinion to be printed on or accompany each Bond. Section 4. Payment; Security; Pledges and Covenants. 4.01. (a) The City will create and continue to operate its Utility Fund to which will be credited all gross revenues of the water and sewer utility system and out of which will be paid all normal and reasonable expenses of current operations of the water and sewer utility system. Any balance therein are deemed net revenues and will be transferred, from time to time, to a General Obligation Utility Revenue Bonds, Series 2006D Debt Service Fund (the "Debt Service Fund ") hereby created in the Utility Fund, which fund will be used only to pay principal of and interest on the Bonds and any other bonds similarly authorized. There will always be retained in the Debt Service Fund a sufficient amount to pay principal of and interest on all the Bonds described in the resolution authorizing the sale of the Bonds, and the City Administrator must 293490v1 SJB LN140 -95 10