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pay pursuant to Minnesota Statutes, Sections 469.12 to 469.134 certain costs of the City's Development District No. 2 established p rsuant to Minnesota Statutes, Sections 469.124 to 469.134, and pursuant to a authorizing resolution (the "Resolution") adopted by the City Council of the Ci on September 25, 1989, and pursuant to and in full conformity with the Constit tion and la'ws of the State of Minnesota, including Minnesota Statutes, Chapter 75 and Sections 469.174 to 469.179. . The Bonds of this series are payable from t Taxable General Obligation Tax Increment Bonds, Series 1989C Fund of the City the "Bond Fund") to which has been pledged certain tax increment generated fr m the City's Tax Increment Financing District No.1. All taxable property within the City is also subject to the levy of direct general ad valorem taxes required by aw to be levied and extended if needed for this purpose, without limitation as to ra e or amount. The issuance of this bond does not cause the indebtedness of the Cit to exceed any constitutional or statutory limitation thereon. As provided in the Resolution, and subject t certain limitations set forth therein, this Bond is transferable upon the books of he City kept for that purpose at the principal office of the Registrar, by the regist red owner hereof in person or by such owner's attorney duly authorized in writin upon surrender of this Bond together with a written instrument of transfer satis actory to the Registrar, duly executed by the registered owner or such owner's d ly authorized attorney. Upon such transfer and the payment of any tax, fee or go ernmental charge required to be paid by the City or the Registrar with respect t such transfer, there will be issued in the name of the transferee a new Bond or Bonds of the same aggregate principal amount as the surrendered Bond. . The Bonds of this series are issuable only as ully registered bonds without coupons in denominations of $5,000 or any integral ultiple thereof not exceeding the principal amount maturing in anyone year. As rovided in the' Resolution and subject to certain limitations therein set forth, he Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series of the same maturity but of a different authorized de no ination, as requested by the registered owner or his duly authorized attorney, pon surrender thereof to the Registrar. It is hereby Certified and Recited that al acts, conditions and things required by the Constitution and laws of the Stat of Minnesota to be done, to exist, to happen and to be performed in order to ma e this Bond a valid and binding general obligation of the City according to its ter s, have been done, do exist, have happened and have been performed in due orm, time and manner as so required. This Bond shall not be valid or become oblig tory for any purpose until the Certificate of Authentication hereon shall have bee manually signed by a person authorized to sign on behalf of the Registrar. IN WITNESS WHEREOF, The City of Moun View, Minnesota has caused this Bond to be executed with the facsimile signat res of its Mayor and its City Clerk-Administrator, both as of the Nominal Da e of Original Issue specified above. . 4