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[R.v.rs. of the Bond] This Bond is on. of an issue in the assr.sate priDcipal amount of $370,000, all of lik. original date and t.nor, exc.pt as to numb.r, maturi- ty date, r.daaption . privil.g., and inter.st rate, 18su.d pursuant.. to a resolution adopted by the City Council on March 9, 1988 (the Resolution), for the purpose of providing moo.y to defray the exp.n.e. iDcurred and to be incurred in _king local 1mprov.ent., pursuant to and in full confora1- ty with the Constitution and law. of the State of M1zm..ota, inCluding MiD1'l880ta Statut.s, Chapt.r 429 and i. payable primarily frOll.' special ....s....t. aga1ut property .pecially b.n.fit.d th.r.by, bue- conatitutea a- SeDeral oblisation of the City, and to provide IIOney. for Cbe proapt and full pa,...t of ..id principal aDd inter..t .. the .... beCGDa ~~. the full faith acl uedit of the City is her.by irrwocably pl.d.eel.., act; the City Couadl. v11l. levy ad valor.. cu.... if required for such purpo.." which CUe.. -.y be lw1ecl on all of the taxable property- m the- City Without l1ll1ucion sa to rate or UIOUIlt. The bonds of thi. aer1Ats are i.aueel oaly .. fully registered bond. in dooa1Dation. of fS,OOO or .y int.~al .ttiple- thereof of aiDgle matur1ti... M pnri.da4 1D the- IesolutioD: ancl nbj .ct to c.rtain 111I1tat:.1ou sat forth: thentJa.., thi. Bond a trauferable upon the boob of the C1*" at the princ1pal. office of the Bon4 Rea1.trar" by th. aaJ.8ter"~. ovn.r heraof 1D. per.OIl or bY" th.. eMler". actorney duly' authoriae4 m wrid.llc 1IpOIL auneDdar hereof toaethet ath . writtaD; 1Datrwlellt of traufer ..d.fact~ to th.. BOIht leli8trar,. duly executK' by the rea1.~ ower or the: CMler'''. attoney: 81ldi _y &lao be aurred.red' 1a _dum.e for ~ of other authorize4 dull'llllltl..sti01l8.. 0,011 such tranafer or _cbanC" the C:I.~ w:f11 caua. . ,.. IODct or BoDd. to" be 1;aaued'. 1n th.. ~ of th.. eruaa.fera. or repatar..r CMleI",. of the __ AI.r_t. principaL amount,. bear1.Da tDCK_t at the __ ate act maturtDs OIl the ..._ clat..,. aabject: to re1JdMll'8eaa1lt for ay ca.,. f.. or a.ov.A.~ta1. char.. nquirect to b.. paJ.cl' with ~pect: to such traufar or ach.... . Th.. C1ty 81lcl~ the Bond l.eaJ.strar may d.- _d: treat the pel'8Olt fa. who.. ..... th1a Icmcl t. rqiaterecl .. the- absolute owner hereof., whether this lO1lel~ fa cwerdue or not,. for th.. purpos.. of receiyiDc. ""01: act fOr: .n: otller parpo...... aad:'. Deither tII.. City IIOr tile Boncli. ha18trar '~.h' effectect by any' DOtice to the CODtruy.. IT IS BlRDY CD-lltlED,. RECITED,. COVEIWft'!D AND AGREED that a1% acta.. c01lclition. and thinas' requirecl by the Conatitution 81lcI' law. of the State of K1DDnota, to' b.. don_. to _i.t" to happ.n an4 to be p.rforMd pl'a'lfaiDay, to 8DcI in the ianance of this Bond in order to, wake it . valid ad' biDdiDg paeral ohligat1OD of the City in accordance with ita t.nas, baY.. been clone, do a1st,. have happ.ned and hav.. heen: performed .. 80' requtrecl., act that the i.wance of thia Bond do-s DOt ca.e: the ind.bt.dnes. ofth" City to exce.d any cOIl.titutiol'lal or statutory U.itati01'l of ind.btecJnqa. (Fora of certificate to be print.d on the rev.rse- aide of each BoDd,.- follov1na .full copy of thel.sal opinion.)