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improvements to the City's storm sewer utility; (b) money to be allocated from its account in the <br /> Municipal State-Aid Street Fund of the State of Minnesota in such amount as shall be sufficient <br /> to pay all principal of and interest on the portion of the Bonds issued to refund the bonds issued <br /> to refinance improvements to various state-aid roads in the City, (c) has levied or agreed to levy <br /> special assessments on property specially benefited by the portion of the Bonds issued to finance <br /> street reconstruction projects in the City and ad valorem taxes on all taxable property in the City, <br /> collectible in the years and amounts required to produce sums not less than 5% in excess of the <br /> principal of and interest on such portion of the Bonds as such principal and interest respectively <br /> become due, and has appropriated the same to the payment of such portion of the Bonds in the <br /> manner specified in Minnesota Statutes, Section 429.091, Subdivision 4; (d) tax abatements to be <br /> derived by the City from certain specified properties of the City; that if necessary to pay the <br /> principal and interest on the tax abatement portion of the Bonds, and (e) if necessary for payment <br /> of the principal and interest on this Bond, additional ad valorem taxes are required to be levied <br /> upon all taxable property in the City, without limitation as to rate or amount; and that the <br /> issuance of this Bond does not cause the indebtedness of the City to exceed any constitutional or <br /> statutory limitation of indebtedness. <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 /> • <br /> [The remainder of this page is intentionally left blank] <br /> -5- <br />