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" . This bond is one of an issue in the total principal amount of $500,000 all of like date and tenor, except as to serial number, maturity, interest rate and redemption privi- lege, which bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota for the purpose of providing money in addition to other available funds to refund outstanding Improvement Bonds, Series 1, dated November 1, 1970, of the City, maturing in the years 1981 through 1988, and is payable out of the General Obligation Bonds Account of the City. This bond constitutes a general obligation of the City, and to provide moneys for the prompt and full payment of said principal and interest when the same become due, the full faith and credit and taxing powers of said City have been and are hereby irrevocably pledged. \ IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed, precedent to and in the issuance of this bond, have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and this bond, together with all other debts of the City outstanding on the date hereof and the date of its actual issuance and delivery does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City of Arden Hills, Ramsey County, Minnesota, by its city Council has caused this bond to be executed in its behalf by the facsimile signature of the Mayor and the manual signature of the City Clerk, the corporate seal having been intentionally omitted as permitted by law, and has caused the interest coupons to be executed and authen- ticated by the facsimile signatures of said officers, all as of February 1, 1977. Mayor City Clerk . -5-