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duly executed by the registered owner or his attorney; and may also be surrendered in exchange <br /> for Bonds of other authorized denominations. Upon such transfer or exchange, the 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 City and the Bond Registrar may deem and treat the person in whose name this Bond <br /> 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 <br /> be affected by any notice to the contrary. <br /> IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, <br /> 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 <br /> make this Bond 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 in regular and due form as so <br /> required; that prior to the issuance hereof the City has levied or agreed to levy special <br /> assessments on property specially benefited by the Improvements and ad valorem taxes on all <br /> taxable property in the City, collectible in the years and amounts required to produce sums not <br /> less 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 constitutional or statutory <br /> 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 <br /> been executed by the Bond Registrar by the manual signature of a person authorized to sign on <br /> 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 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 /> :CITY OF ANTHONY y <br /> -�-�' <br /> City Manager Mayor <br /> • <br /> -4- <br />