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. . . Minnesota Statutes, Sections 469.124 to 469.134 certain costs of the City's Development District No. 2 established pursuant to Minnesota Statutes, Sections 469.124 to 469.134, and pursuant to an authorizing resolution (the "Resolution") adopted by the City Council of the City on September 25, 1989, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Chapter 475 and Sections 469.174 to 469.179. The Bonds of this series are payable from the General Obligation Tax Increment Bonds, Series 1989B Fund of the City (the "Bond Fundlt) to which has been pledged certain tax increment generated from 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 law to be levied and extended if needed for this purpose, without limitation as to rate or amount. The issuance of this bond does not cause the indebtedness of the City to exceed any constitutional or statutory limitation thereon. As provided in the Resolution, and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City kept for that purpose at the principal office of the Registrar, by the registered owner hereof in person or by such owner's attorney duly authorized in writing, upon surrender of this Bond together with a written instrument of transfer satisfactory to the Registrar, duly executed by the registered owner or such owner's duly authorized attorney. Upon such transfer and the payment of any tax, fee or governmental charge required to be paid by the City or the Registrar with respect to 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 City has designated the Bonds as "Qualified Tax-Exempt Obligations" within the meaning of Section 265 of the Internal Revenue Code of 1986, as amended. The Bonds of this series are issuable only as fully registered bonds without coupons in denominations of $5,000 or any integral multiple thereof not exceeding the principal amount maturing in anyone year. As provided in the Resolution and subject to certain limitations therein set forth, the 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 denomination, as requested by the registered owner or his duly authorized attorney, upon surrender thereof to the Registrar. It is hereby Certified and Recited that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed in order to make this Bond a valid and binding general obligation of the City according to its terms, have been done, do exist, have happened and have been performed in due form, time and manner as so required. This Bond shall not be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been manually signed by a person authorized to sign on behalf of the Registrar. IN WITNESS WHEREOF, The City of Mounds View, Minnesota has caused this Bond to be executed with the facsimile signatures of its Mayor and its City 4