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ON REVERSE OF BOND <br />This Bond is one of an issue in the total principal <br />amount of $295,000, all of like date of original issue and <br />tenor, except as to number, maturity, interest rate, and <br />denomination, which Bond has been issued pursuant to and in <br />full conformity with the Constitution and laws of the State of <br />Minnesota and pursuant to a resolution adopted by the City <br />Council on November 5, 1984 (the "Resolution"), for the purpose <br />of providing money to finance the construction of various <br />improvements and is payable out of the Debt Service Account of <br />the General Obligation Improvement Bonds of 1984, Series A Fund <br />of the Issuer. This Bond constitutes a general obligation of <br />the Issuer, and to provide moneys for the prompt and full <br />payment of its principal, premium, if any, and interest when <br />the same became due, the full faith and credit and taxing <br />powers of the Issuer have been and are hereby irrevocably <br />pledged. <br />The Bonds are issuable solely as fully registered <br />Bonds in the denominations of $5,000 and integral multiples <br />thereof of a single maturity, and are exchangeable for fully <br />registered Bonds of other denominations in equal aggregate <br />principal amounts and in authorized denominations at the <br />principal office of the Bond Registrar, but only in the manner <br />and subject to the limitations provided in the Resolution. <br />Reference is hereby made to the Resolution for a description of <br />the rights and duties of the Bond Registrar. Copies of the <br />Resolution are on file in the principal office of the Bond <br />Registrar. <br />This Bond is transferable by the Holder in person or <br />by his attorney duly authorized in writing at the principal <br />office of the Bond Registrar upon presentation and surrender <br />hereof to the Bond Registrar, all subject to the terms and <br />conditions provided in the Resolution and to reasonable regula- <br />tions of the Issuer contained in any agreement with the Bond <br />Registrar. Thereupon the Issuer shall execute and the Bond <br />Registrar shall authenticate and deliver, in exchange for this <br />Bond, one or more new fully registered Bonds in the name of the <br />transferee (but not registered in blank or to "bearer" or <br />similar designation), of an authorized denomination or <br />denominations, in aggregate principal amount equal to the <br />principal amount of this Bond, of the same maturity and bearing <br />interest at the same rate. <br />The Bond Registrar may require payment of a 'sum suffi- <br />cient to cover any tax or other governmental charge payable in <br />connection with the transfer or exchange of this Bond and any <br />legal or unusual costs regarding transfers and lost Bonds. <br />-7- <br />