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the issuance hereof, the City Council has levied ad valorem taxes on all taxable property in the <br />City, which taxes are estimated to be receivable in the years and in amounts sufficient to produce <br />sums not less than five percent in excess of the principal of and interest on the Obligations when <br />due, and has appropriated such taxes to its General Obligation Equipment Certificates of <br />Indebtedness, Series 2006A Sinking Fund for the payment of such principal and interest; that if <br />necessary for payment of such principal and interest when due, additional ad valorem taxes are <br />required to be levied upon all taxable property in the City, without limitation as to rate or amount <br />and that the issuance of this Obligation, together with all other indebtedness of the City <br />outstanding on the date hereof and on the date of its actual issuance and delivery, does not cause <br />the indebtedness of the City to exceed any constitutional or statutory limitation of indebtedness. <br />This Obligation shall not be valid or become obligatory for any purpose or be entitled to <br />any security or benefit under the Resolution until the Certificate of Authentication hereon shall <br />have been executed by the Registrar by manual signature of one of its authorized representatives. <br />IN WITNESS WHEREOF, the City of Lake Elmo, Minnesota, by its City Council, has <br />caused this Obligation to be executed on its behalf by the facsimile signatures of the Mayor and <br />City Manager and has caused this Obligation to be dated as of the date set forth below. <br />Date of Authentication: <br />CITY OF LAKE EL.MO, MINNESOTA <br />(facsimile signature - City Manager) (facsimile signature - Mayor) <br />CERTIFICATE OF AUTHENTICATION <br />This is one of the Obligations delivered pursuant to the Resolution mentioned within. <br />CITY FINANCE DIRECTOR, as Registrar <br />By <br />Authorized Representative <br />The following abbreviations, when used in the inscription on the face of this Obligation, <br />shall be construed as though they were written out in full according to the applicable laws or <br />regulations: <br />TEN COM - as tenants in common UTMA ................... as Custodian for ..................... <br />(Cust) (Minor) <br />TEN ENT - as tenants by the entireties under Uniform Transfers to Minors Act .............. <br />(State) <br />JT TEN -- as joint tenants with right of survivorship and not as tenants in common <br />