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IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED <br /> that all acts, conditions and things required by the Constitution and laws of the State <br /> of Minnesota to be done, to exist, to happen and to be performed precedent to and in <br /> the issuance of this Bond in order to make this Bond a valid and binding general <br /> obligation of the City according to its terms, have been done, do exist, have <br /> happened and have been performed in regular and due form as so required; that <br /> prior to the issuance hereof the City has levied or agreed to levy special assessments <br /> 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 <br /> sums not less than 5% in excess of the principal of and interest on the Bonds as such <br /> principal and interest respectively become due, and has appropriated the same to the <br /> Fund in the manner specified in Minnesota Statutes, Section 429.091, Subdivision 4; <br /> that, to take care of any accumulated or anticipated deficiency in the Fund, <br /> additional ad valorem taxes are required by law to be levied upon all taxable <br /> property in the City without limitation as to rate or amount; and that the issuance of <br /> this Bond does not cause the indebtedness of the City to exceed any constitutional or <br /> statutory limitation. <br /> The following abbreviations, when used in the inscription on the face <br /> of this Bond, shall be construed as though they were written out in full according to <br /> applicable laws or regulations: <br /> TEN COM -- as tenants UNIF TRANS MIN ACT. . . . . Custodian. . . . . <br /> in common (Cust) (Minor) <br /> TEN ENT - - as tenants <br /> by the entireties <br /> under Uniform Transfers to <br /> JT TEN - - as joint tenants Minors <br /> with right of <br /> survivorship and Act. . . . . . . . . . . . . . . . . . . . . . <br /> not as tenants in (State) <br /> common <br /> Additional abbreviations may also be used. <br /> i <br />