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happened and have been performed as so required; that, prior to the issuance Hereof, the City Council has <br />by the Resolution covenanted and agreed to collect and apply to payment of the bonds ad valorem taxes <br />levied on all taxable property in the City, certain net revenues of its Municipal water, stormwater, and <br />sewer systems and special assessments upon property specially benefited by the local improvements <br />financed with the Bonds, which taxes, revenues and assessments are estimated to be collectible in years <br />and amounts sufficient to produce satins not less than % in excess of the principal of and interest on the <br />Bonds when due, and has appropriated such assessments, revenues and taxes to its General Obligation <br />gation <br />Bonds, Series 2017 Bond Fund for the payment of such principal and interest, that if Necessary for the <br />payment of such principal and interest, additional ad valorem taxes are required to be levied upon all <br />taxable property in the City, without limitation as to rate or amount, that all proceedings relative to the <br />projects financed by this Bond have been or will be taken according to law and that the issuance of this <br />Band, together with all other indebtedness of the City outstanding on the date Hereof and on the elate of its <br />actual issuance and delivery, does not cause the indebtedness of the City to exceed any constitutional or <br />statutory limitation of indebtedness: <br />This Band shall not be valid; or become obligatory for any purpose or be entitled to any security <br />or benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by <br />the Registrar by manual: signature of one of its authorized representatives. <br />IN WITNESS WHEREOF, the City has caused this Bond to be executed on its behalf by the <br />facsimile signatures of its Mayor and City: Administrator and has caused this Bond to be dated as of the <br />date set forth below. <br />CITY OF LAKE ELMO, MINNESOTA <br />...... <br />w <br />(facsimile signature — City Administrator) (facsimile signature — Mayor <br />CERTIFICATE OF AUTHENTICATION <br />This is one of the Bonds delivered pursuant to the Resolution Mentioned within <br />Date of Authentication; <br />NORTHLAND <br />as Registrar <br />By <br />Authorized Representative <br />