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<br />Signature Guaranteed: <br /> <br />S1gnature(s) must be guaranteed by a national bank or trust company or by a <br />brokerage firm having a membership in one of the major stock exchanges. <br /> <br />The Bond Registrar will not effect transfer of this Bond unless <br />the information concerning the assignee requested below 1s provided. <br /> <br />Name and Address: <br /> <br />(Include information for all joint owners if <br />this Bond is held by joint account) <br /> <br />Please insert social security or <br />other identifying number of assignee <br /> <br />3.02. The City Clerk-Treasurer shall obtain a copy of the proposed <br />approving legal opinion of LeFevere, Lefler, Kennedy, O'Brien & Drawz, a <br />:' Professional Association, Minneapolis. Minnesota, which shall be complete <br />except as to dating thereof and shall cause the opinion to be printed on <br />'each Bond, together with a certificate to be signed by the facsimile <br />~ignature of the City Clerk-Treasurer in substantially the form set forth <br />in the form of Bond. The City Clerk-Treasurer is hereby authorized and <br />directed to execute such certificate in the name of the City upon receipt <br />of such opinion and to file the opinion in the City offices. <br />.~::. . <br />'J <br /> <br />Section 4. Security: Payment: Pledges and Covenants. <br /> <br />4.01. The Bonds shall be payable from the Improvement Bonds of 1987 <br />Debt, Service Fund (Debt Service Fund) hereby created, and special assess- <br />ments (Assessments) levied and to be levied for,the improvements (Improve- <br />ments) financed by the Bonds are hereby pledged to the Debt Service Fund. <br />If any payment of principal or interest on the Bonds shall become due when <br />there 1s not sufficient money in the Debt Service Fund to pay the same, the <br />Clerk-Treasurer shall pay such principal or interest from the general fund <br />of the City and the general fund may be reimbursed for such advances out of <br />proceeds of Assessments for the Improvements when collected. <br /> <br />4.02. It 1s hereby determined that the Improvements to be financed by <br />the Bonds will directly and indirectly benefit the abutting property, and <br />the City hereby covenants with the holders from time to time of the Bonds <br />as follows: <br /> <br />(a) The City has caused or will cause the Assessments <br />for the Improvements to be promptly levied so that the first <br />installment will be collectible not later than 1988 and will <br />take all steps necessary to assure prompt collection, and <br />the levy of the Assessments is hereby authorized. The City <br />Council shall cause all further actions and proceedings <br /> <br />,. ~:""~ <br />