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CITY OF LINO LAKES, MINNESOTA <br />(Facsimile) (Facsimile) <br />City Clerk -Treasurer Mayor <br />CERTIFICATE OF AUTHENTICATION <br />This is one of the Bonds delivered pursuant to the Resolution mentioned within. <br />By <br />Authorized Representative <br />[Reverse of the Bond] <br />This Bond is one of an issue in the aggregate principal amount of $4,685,000 all of like <br />original issue date and tenor, except as to number, maturity date, redemption privilege, and <br />interest rate, all issued pursuant to a resolution adopted by the City Council on September 9, 1996 <br />(the Resolution), for the purpose of providing money to defray the expenses incurred and to be <br />incurred in making local improvements, pursuant to and in full conformity with the Constitution <br />and laws of the State of Minnesota, including Minnesota Statutes, Chapter 429, and the principal <br />hereof and interest hereon are payable primarily from special assessments against property <br />specially benefitted by local improvements as set forth in the Resolution to which reference is <br />made for a full statement of rights and powers thereby conferred. The full faith and credit of the <br />City are irrevocably pledged for payment of this Bond and the City Council has obligated itself <br />to levy ad valorem taxes on all taxable property in the City in the event of any deficiency in <br />special assessments pledged, which taxes may be levied without limitation as to rate or amount. <br />The Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or <br />any integral multiple thereof of single maturities. <br />As provided in the Resolution and subject to certain limitations set forth therein, this Bond <br />is transferable upon the books of the City at the principal office of the Bond Registrar, by the <br />registered owner hereof in person or by the owner's attorney duly authorized in writing, upon <br />surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, <br />duly executed by the registered owner or the owner's attorney; and may also be surrendered in <br />exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City <br />will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, <br />of the same aggregate principal amount, bearing interest at the same rate and maturing on the <br />same date, subject to reimbursement for any tax, fee or governmental charge required to be paid <br />with respect to such transfer or exchange. <br />DJK108714 <br />LN140-52 <br />