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The Bonds have been designated by the Issuer as "qualified tax-exempt <br /> • obligations"pursuant to Section 265(b)(3) of the Internal Revenue Code of 1986. <br /> The City and the Bond Registrar may deem and treat the person in whose name <br /> this Bond is registered as the absolute owner hereof, whether this Bond is overdue or not, for the <br /> purpose of receiving payment and for all other purposes, and neither the City nor the Bond <br /> Registrar shall be affected by any notice to the contrary. <br /> IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that <br /> all acts, conditions and things required by the Constitution and laws of the State of Minnesota to <br /> be done, to exist, to happen and to be performed precedent to and in the issuance of this Bond in <br /> order to make it a valid and binding general obligation of the City according to its terms have <br /> been done, do exist, have happened and have been performed as so required; that prior to the <br /> issuance hereof the City has levied or agreed to levy special assessments on property specially <br /> benefited by the local improvements refinanced by the Bonds and ad valorem taxes on all taxable <br /> property within the City, collectible in the years and amounts required to produce sums not less <br /> than 5% in excess of the principal of and interest on the Bonds as such principal and interest <br /> respectively become due, and has appropriated the same to the Fund in the manner specified in <br /> Minnesota Statutes, Section 429.091, Subdivision 4; that, to take care of any accumulated or <br /> anticipated deficiency in the Fund, additional ad valorem taxes are required by law to be levied <br /> upon all taxable property in the City without limitation as to rate or amount; and that the issuance <br /> of this Bond does not cause the indebtedness of the City to exceed any charter, constitutional or <br /> statutory limitation. <br /> • This Bond shall not be valid or become obligatory for any purpose or be entitled <br /> to any security or benefit under the Resolution until the Certificate of Authentication hereon shall <br /> have been executed by the Bond Registrar by manual signature of a person authorized to sign on <br /> its behalf. <br /> IN WITNESS WHEREOF, the City of St. Anthony, Hennepin and Ramsey <br /> Counties, State of Minnesota, by its City Council, has caused this Bond to be executed by the <br /> signatures of the Mayor and the City Manager and has caused this Bond to be dated as of the <br /> date set forth below. <br /> City Manager Mayor <br /> CERTIFICATE OF AUTHENTICATION <br /> This is one of the Bonds delivered pursuant to the Resolution mentioned within. <br /> Date of Authentication: <br /> -4- <br />