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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 preliminary to and in the issuance of this Bond in order <br /> to make it a valid and binding general obligation of the City in accordance with 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 pledged to the payment of the principal of and interest on the Bonds <br /> special assessments on property specially benefited by the portion of the Bonds issued to <br /> refinance water, street and sewer projects in the City and ad valorem taxes on all taxable <br /> property in the City, collectible in the years and amounts required to produce sums not less than <br /> 5% in excess of the principal of and interest on such portion of the Bonds as such principal and <br /> interest respectively become due, and has appropriated the same to the payment of such portion <br /> of the Bonds in the manner specified in Minnesota Statutes, Section 429.091, Subdivision 4, and, <br /> if necessary for payment of the principal and interest on this Bond, additional ad valorem taxes <br /> are required to be levied upon all taxable property in the City, without limitation as to rate or <br /> amount; and that the issuance of this Bond does not cause the indebtedness of the City to exceed <br /> any constitutional or 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 /> 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 ST. ANTHONY <br /> City Manager Mayor <br /> -4- <br />