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The City and the Bond Registrar may deem and treat the person in whose name this <br /> Bond is registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose <br /> of receiving payment and for all other purposes, and neither the City nor the Bond Registrar shall be <br /> affected by any notice to the contrary. <br /> ITIS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all <br /> acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, <br /> to exist, to happen and to be performed precedent to and in the issuance of this Bond in order to make <br /> this Bond a valid and binding general obligation of the City according to its terms, have been done, do <br /> exist, have happened and have been performed in regular and due form as so required; that in and by <br /> the Resolution, the City has pledged to the payment of the principal of and interest on the Bonds net <br /> revenues of the storm sewer utility of the City; that in and by the Resolution, the City has covenanted <br /> and agreed with the owner of the Bonds that it will impose and collect charges for the service, use and <br /> availability of its storm sewer utility at the time and in the amounts required to produce net revenues <br /> adequate to pay all principal of and interest on the Bonds and on all other bonds payable from net <br /> revenues of the storm sewer utility as such principal and interest respectively become due; that if <br /> needed to pay the principal and interest on this Bond, ad valorem taxes will be levied upon all taxable <br /> property in the City without limitation as to rate or amount; and that the issuance of this Bond does not <br /> cause the indebtedness of the City to exceed any constitutional or statutory limitation. <br /> • This Bond shall not be valid or become obligatory for any purpose or be entitled to any <br /> security or benefit under the Resolution until the Certificate of Authentication hereon shall have been <br /> executed by the Bond Registrar by the manual signature of a person authorized to sign on its behalf. <br /> IN WITNESS WHEREOF, the City of St. Anthony, Hennepin and Ramsey Counties, <br /> Minnesota, by its City Council, has caused this Bond to be executed by the facsimile signatures of the <br /> Mayor and the City Manager and has caused this Bond to be dated as of the date set forth below. <br /> Date of Authentication: <br /> C OF)ST. ANTHO <br /> City Manager \ Mayor <br /> • -5- <br />