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.. ; ~'f , RESOLUTION NO. 2~ Page Two . .;~ "~4 KNOW ALL MEN BY THESE PRESENTS that the City of Mounds View, Ramsey County, Minnesota, hereby acknowledges itself to be indebted and for values received promises to pay to the Utility Fund of the City of Mounds View on order, the sum of $100,955.00 plus interest at 8% per annum in one installment in 1990. Principal and interest on this Certificate is payable at the office of the City of Mounds View, Minnesota, and for the prompt payment of said principal, the full faith, credit and taxing power of the said City have been and are hereby irrovocably pledged. This Certificate is issued for the purpose of purchasing police and street maintenance equipment for the City and is authorized by a duly adopted resolution of the City Council of said City, dated January 3, 1989 and is issued pursuant to and in full conformity with Minnesota Statutes, Section 412.301. IT IS HEREBY Certified and Recited, that all acts, conditions and things required by law to be done, to exist, to happen and to be performed, precedent to and in the issuance of this Certificate have been done, do exist, have happened and have been performed in regular and due form, time and manner; that a direct, annual, irrepealable ad valorem tax has been duly levied by said City in an amount sufficient to pay the principal on this Certificate when it falls due, and that this Certificate, together with all other existing indebted- ness of the said City, does not exceed any constitutional or statutory limitatIon on indebtedness. IN WITNESS WHEREOF, said City has caused this Certificate to be executed in its behalf by its Mayor and Administrator and the Official Seal of the City to be affixed hereto as of January 3, 1989. The motion for adoption of the above resolution was duly seconded by Member Paone and upon a vote being taken, 5 Ayes o Nays, said resolution was declared duly passed and adopted this 18th day of December, 1989. ATTEST: ~n;.~ (SEAL)