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have happened and have been performed in regular and due form, time and manner; that a direct, annual, <br />irrepealable ad valorem tax will be duly levied by said City in an amount sufficient to pay the principal and <br />interest on this Certificate, together with all other existing indebtedness of the said City, does not exceed any <br />constitutional or statutory limitation on indebtedness. <br />4. Should the actual 2003 State Aid Cuts be less than $502,546 currently proposed by the <br />Governor, the difference between the proposed cuts and the actual cuts would be used to prepay the <br />certificates of indebtedness herein issued. <br />Adopted by the City Council of Lino Lakes, Minnesota, this 24th day of March, 2003. <br />Ann Blair, Qty Clerk <br />4 <br />