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• for Bonds of other authorized denominations. Upon such transfer or exchange,th <br /> P e City will <br /> cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the <br /> same aggregate principal amount, bearing interest at the same rate and maturing on the same <br /> date, subject to reimbursement for any tax, fee or governmental charge required to be paid with <br /> respect to such.transfer or exchange. <br /> 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 finance or refinanced by the Bonds and ad valorem taxes on <br /> all taxable property within the City, collectible in the years and amounts required to produce <br /> • sums not less than 5%in excess of the principal of and interest on the Bonds as such principal <br /> and interest respectively become due, and has appropriated the same to the Fund in the manner <br /> specified in Minnesota Statutes, Section 429.091, Subdivision 4;that,to take care of any <br /> accumulated or anticipated deficiency in the Fund, additional ad valorem taxes are required by <br /> law to be levied upon all taxable property in the City without limitation as to rate or amount; and <br /> that the issuance of this Bond does not cause the indebtedness of the City to exceed any charter, <br /> constitutional or 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 Nfayor Pro m <br /> • <br /> -4- <br />