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• <br />the annual installment due date and next to principal due. Other <br />payments, from whatever source derived, shall be applied to the <br />principal last to become due and shall not affect the obligation <br />of the City to pay the remaining installments as scheduled <br />herein. <br />This certificate is in the total principal amount of <br />SEVENTY -EIGHT THOUSAND DOLLARS, and is issued by the City <br />pursuant to the Constitution and the laws of the State of <br />Minnesota, including Minnesota Statutes, 8412.301, for the <br />purpose of financing the purchase of certain equipment by the <br />City. <br />This certificate may be assigned but upon such assign- <br />ment the assignee shall promptly notify the City at the office <br />of the City Clerk - Treasurer by registered mail, and thh assignee <br />shall furnish the same to the City Clerk- Treasurer either in <br />exchange for a new fully registered certificate in the principal <br />amount then outstanding or for transfer on the registration book <br />kept by the Clerk- Treasurer for such purpose. <br />IT IS HEREBY CERTIFIED AND RECITED That all acts, con- <br />ditions, and things required by the Constitution and laws of the <br />State of Minnesota to be done, to happen, to exist, and to be <br />performed precedent to and in the issuance of this certificate <br />of indebtedness has been done, has happened, does exist, and <br />have been performed in regular and due form, time, and manner as <br />required by law; that prior to the issuance hereof, a direct, <br />annual, irreparable ad valorem tax upon all the taxable property <br />in the City has been levied for the years and in amounts at <br />-3- <br />