2009-09-23 CC Packet - Laserfiche WebLink

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This bond is one of an issue in the aggregate principal amount of $2,475,000 all of like original issue date and tenor, except as to number, maturity date, and interest rate, all issued pursuant to a resolution adopted by the City Council of the City on September 23, 2009 (the "Resolution"), for the purpose providing funds to finance the advance refunding of the City's General Obligation Improvement Bonds, Series 2006A, which bonds were issued to provide funds to finance the construction of certain public improvements in the City. Pursuant to the Resolution, the City has pledged to the payment of this Bond the proceeds of public improvement special assessments. The full faith and credit of the City are irrevocably pledged for payment of this Bond and the City Council has obligated itselfto levy ad valorem taxes on all taxable property in the City in the event of any deficiency in revenues pledged, which taxes may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully registered bonds in Authorized Denominations (as defined in the Resolution described above). As provided in the Resolution and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner hereof in person or by the owner's attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or the owner's attorney; and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee or governmental charge required to be paid with respect to such transfer or exchange. The City and the Bond Registrar may deem and treat the person in whose name this Bond is registered as the absolute owner hereof, whether this Bond is overdue or not, for the purpose of receiving payment and for all other purposes, and neither the City nor the Bond Registrar shall be affected by any notice to the contrary. This Bond is not valid or obligatory for any purpose or entitled to any security or benefit under the Resolution until the Certificate of Authentication hereon has been executed by the Bond Registrar by manual signature of one of its authorized representatives. 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 have happened, 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 that this Bond, together with all other indebtedness of the City outstanding on the date hereof and on the date of its actual issuance and delivery, does not cause the indebtedness of the City to exceed any constitutional or statutory limitation thereon. IN WITNESS WHEREOF, the City of Centerville, Anoka County, Minnesota, by its City Council, has caused this Bond to be executed by the manual signatures, or facsimiles thereof, of the Mayor and the Clerk and has caused this Bond to be dated October I, 2009. 12 20